Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Jan. 31, 2014 | Jun. 28, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'RESOLUTE FOREST PRODUCTS INC. | ' | ' |
Entity Central Index Key | '0001393066 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'RFP | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 94,546,260 | ' |
Entity Public Float | ' | ' | $864 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | $1,150 | $1,130 | $1,107 | $1,074 | $1,128 | $1,153 | $1,168 | $1,054 | $4,461 | $4,503 | $4,756 | |||||||||||
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 3,446 | 3,485 | 3,581 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 243 | 233 | 220 | |||||||||||
Distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 521 | 514 | 547 | |||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 166 | 149 | 158 | |||||||||||
Closure costs, impairment and other related charges | 33 | 4 | 12 | 40 | 87 | 5 | 88 | 5 | 89 | 185 | 46 | |||||||||||
Net gain on disposition of assets | 0 | 0 | -2 | 0 | -7 | -4 | -1 | -23 | -2 | -35 | -3 | |||||||||||
Operating (loss) income | 8 | [1] | 36 | [1] | 3 | [1] | -49 | [1] | -58 | [2] | 31 | [2] | -32 | [2] | 31 | [2] | -2 | [1],[3] | -28 | [2],[3] | 207 | [3] |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -51 | -66 | -95 | |||||||||||
Other (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -62 | 22 | -48 | |||||||||||
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -115 | -72 | 64 | |||||||||||
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -524 | 39 | -19 | |||||||||||
Net (loss) income including noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -639 | -33 | 45 | |||||||||||
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 34 | 2 | |||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | ($3) | ($588) | ($43) | ($5) | ($45) | $37 | ($17) | $26 | ($639) | $1 | $47 | |||||||||||
Net (loss) income per share attributable to Resolute Forest Products Inc. common shareholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Basic (in dollars per share) | ($0.03) | ($6.22) | ($0.45) | ($0.05) | ($0.47) | $0.38 | ($0.17) | $0.27 | ($6.75) | $0.01 | $0.48 | |||||||||||
Diluted (in dollars per share) | ($0.03) | ($6.22) | ($0.45) | ($0.05) | ($0.47) | $0.38 | ($0.17) | $0.27 | ($6.75) | $0.01 | $0.48 | |||||||||||
Weighted-average number of Resolute Forest Products Inc. common shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Basic (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 94.7 | 97.4 | 97.1 | |||||||||||
Diluted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 94.7 | 97.5 | 97.1 | |||||||||||
[1] | for the year ended December 31, 2013 included the following significant items:(In millions)First QuarterSecond QuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$— $2 $— $— $2 Closure costs, impairment and other related charges (40) (12) (4) (33) (89) Inventory write-downs related to closures (4) (1) — (6) (11) Transaction costs (3) (2) — (1) (6) Start up costs of idled mill (15) (13) (3) (1) (32) $(62) $(26) $(7) $(41) $(136) | |||||||||||||||||||||
[2] | for the year ended December 31, 2012 included the following significant items:(In millions)First QuarterSecondQuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$23 $1 $4 $7 $35 Closure costs, impairment and other related charges (5) (88) (5) (87) (185) Inventory write-downs related to closures — (7) — (5) (12) Severance costs (2) (1) — (2) (5) Transaction costs (4) (3) — (1) (8) Start up costs of idled mills — — (5) (8) (13) $12 $(98) $(6) $(96) $(188) | |||||||||||||||||||||
[3] | Corporate and other operating loss for the years ended December 31, 2013, 2012 and 2011 included the following significant items:(In millions)2013 2012 2011 Net gain on disposition of assets$2 $35 $3 Closure costs, impairment and other related charges (89) (185) (46) Inventory write-downs related to closures (11) (12) (3) Severance costs — (5) (12) Transaction costs (6) (8) (5) Start up costs of idled mills (32) (13) — $(136) $(188) $(63) |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net (loss) income including noncontrolling interests | ($639) | ($33) | $45 |
Other comprehensive (loss) income: | ' | ' | ' |
Change in unamortized prior service credits, net of tax of $0, $7 and $0 in 2013, 2012 and 2011, respectively. | -3 | 23 | -2 |
Change in unamortized actuarial losses, net of tax of $121, $135 and $127 in 2013, 2012 and 2011, respectively. | 350 | -351 | -317 |
Foreign currency translation | -4 | 1 | 10 |
Other comprehensive income (loss), net of tax | 343 | -327 | -309 |
Comprehensive loss including noncontrolling interests | -296 | -360 | -264 |
Less: Comprehensive loss (income) attributable to noncontrolling interests: | ' | ' | ' |
Net loss | 0 | 34 | 2 |
Change in unamortized actuarial losses, net of tax of $0 in both 2012 and 2011 | 0 | 6 | 8 |
Foreign currency translation | 0 | 2 | -2 |
Comprehensive loss attributable to noncontrolling interests | 0 | 42 | 8 |
Comprehensive loss attributable to Resolute Forest Products Inc. | ($296) | ($318) | ($256) |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Change in unamortized prior service credits and costs, including portion attributable to noncontrolling interests, tax portion | $0 | $7 | $0 |
Change in unamortized actuarial losses including portion attributable to noncontrolling interest, tax portion | 121 | 135 | 127 |
Change in unamortized actuarial gains and losses attributable to non-controlling interests, tax portion | ' | $0 | $0 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $322 | $263 |
Accounts receivable, net: | ' | ' |
Trade | 536 | 576 |
Other | 98 | 121 |
Inventories, net | 529 | 558 |
Deferred income tax assets | 32 | 56 |
Other current assets | 45 | 56 |
Total current assets | 1,562 | 1,630 |
Fixed assets, net | 2,289 | 2,440 |
Amortizable intangible assets, net | 66 | 69 |
Deferred income tax assets | 1,266 | 2,000 |
Other assets | 202 | 194 |
Total assets | 5,385 | 6,333 |
Current liabilities: | ' | ' |
Accounts payable and accrued liabilities | 533 | 581 |
Current portion of long-term debt | 2 | 2 |
Deferred income tax liabilities | 32 | 0 |
Total current liabilities | 567 | 583 |
Long-term debt, net of current portion | 597 | 532 |
Pension and other postretirement benefit obligations | 1,294 | 1,946 |
Deferred income tax liabilities | 26 | 75 |
Other long-term liabilities | 62 | 72 |
Total liabilities | 2,546 | 3,208 |
Commitments and contingencies | 0 | 0 |
Resolute Forest Products Inc. shareholders’ equity: | ' | ' |
Common stock, $0.001 par value. 117.0 shares issued and 94.5 shares outstanding as of December 31, 2013; 117.0 shares issued and 94.8 shares outstanding as of December 31, 2012 | 0 | 0 |
Additional paid-in capital | 3,751 | 3,730 |
(Deficit) retained earnings | -592 | 47 |
Accumulated other comprehensive loss | -271 | -614 |
Treasury stock at cost, 22.5 shares and 22.2 shares as of December 31, 2013 and December 31, 2012, respectively | -61 | -61 |
Total Resolute Forest Products Inc. shareholders’ equity | 2,827 | 3,102 |
Noncontrolling interests | 12 | 23 |
Total equity | 2,839 | 3,125 |
Total liabilities and equity | $5,385 | $6,333 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares issued | 117 | 117 |
Common stock, shares outstanding | 94.5 | 94.8 |
Treasury stock, shares | 22.5 | 22.2 |
CONSOLIDATED_STATEMENT_OF_CHAN
CONSOLIDATED STATEMENT OF CHANGES IN (DEFICIT) EQUITY (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings (Deficit) [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Non-controlling Interests [Member] |
In Millions, except Share data, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |
Beginning Balance at Dec. 31, 2010 | $3,987 | ' | $3,709 | ' | ' | ' | $278 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation costs for equity-classified awards | 3 | ' | 3 | ' | ' | ' | ' |
Net income (loss) | 45 | ' | ' | 47 | ' | ' | -2 |
Disposition of investment | -107 | ' | ' | ' | -8 | ' | -99 |
Dividends and distribution paid to noncontrolling interests | -21 | ' | ' | ' | ' | ' | -21 |
Acquisition of noncontrolling interest | -120 | ' | -15 | ' | ' | ' | -105 |
Contribution of capital to non-controlling interest | 5 | ' | -10 | ' | ' | ' | 15 |
Other comprehensive loss, net of tax | -309 | ' | ' | ' | -303 | ' | -6 |
Ending Balance at Dec. 31, 2011 | 3,483 | ' | 3,687 | 47 | -311 | ' | 60 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation costs for equity-classified awards | 5 | ' | 5 | ' | ' | ' | ' |
Net income (loss) | -33 | ' | ' | 1 | ' | ' | -34 |
Acquisition of Fibrek Inc. (2.8 newly-issued shares and 0.5 shares of treasury stock) | 43 | ' | 38 | -1 | ' | 6 | ' |
Disposition of investment | 25 | ' | ' | ' | 16 | ' | 9 |
Purchases of treasury stock (5.6 shares) | -67 | ' | ' | ' | ' | -67 | ' |
Distribution of common stock from the share reserve to Augusta Newsprint Company and Fibrek Inc., wholly-owned subsidiaries (0.1 shares in treasury) | ' | 0 | ' | ' | ' | ' | ' |
Restricted stock units and deferred stock units vested (0.1 shares), net of shares forfeited for employee withholding taxes | 0 | ' | ' | ' | ' | ' | ' |
Dividends and distribution paid to noncontrolling interests | -5 | ' | ' | ' | ' | ' | -5 |
Contribution of capital to non-controlling interest | 1 | ' | ' | ' | ' | ' | 1 |
Other comprehensive loss, net of tax | -327 | ' | ' | ' | -319 | ' | -8 |
Ending Balance at Dec. 31, 2012 | 3,125 | ' | 3,730 | 47 | -614 | -61 | 23 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation costs for equity-classified awards | 7 | ' | 7 | ' | ' | ' | ' |
Net income (loss) | -639 | ' | ' | -639 | ' | ' | ' |
Dividends and distribution paid to noncontrolling interests | -2 | ' | ' | ' | ' | ' | -2 |
Acquisition of noncontrolling interest | 0 | ' | 14 | ' | ' | ' | -14 |
Contribution of capital to non-controlling interest | 5 | ' | ' | ' | ' | ' | 5 |
Other comprehensive loss, net of tax | 343 | ' | ' | ' | 343 | ' | ' |
Ending Balance at Dec. 31, 2013 | $2,839 | ' | $3,751 | ($592) | ($271) | ($61) | $12 |
CONSOLIDATED_STATEMENT_OF_CHAN1
CONSOLIDATED STATEMENT OF CHANGES IN (DEFICIT) EQUITY (Parenthetical) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Purchases of treasury stock, shares | ' | 5,610,152 |
Distribution of common stock from share reserve | 300,000 | 100,000 |
Restricted stock units vested, net of forfeitures | ' | 100,000 |
Common Stock [Member] | ' | ' |
Acquisition of Fibrek Inc., shares issued | ' | 2,800,000 |
Treasury Stock [Member] | ' | ' |
Acquisition of Fibrek Inc., shares issued | ' | 500,000 |
Non-controlling Interests [Member] | ' | ' |
Minority Interest Increase From Other Capital Contribution | 3,000,000 | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Cash flows from operating activities: | ' | ' | ' | |||
Net (loss) income including noncontrolling interests | ($639) | ($33) | $45 | |||
Adjustments to reconcile net (loss) income including noncontrolling interests to net cash provided by operating activities: | ' | ' | ' | |||
Share-based compensation | 7 | 5 | 3 | |||
Depreciation and amortization | 243 | 233 | 220 | |||
Closure costs, impairment and other related charges | 80 | 166 | 41 | |||
Inventory write-downs related to closures | 11 | 12 | 3 | |||
Deferred income taxes | 523 | -36 | 15 | |||
Net pension contributions and other postretirement benefit payments | -117 | -95 | -175 | |||
Net gain on disposition of assets | -2 | -35 | -3 | |||
Loss (gain) on translation of foreign currency denominated deferred income taxes | 93 | -37 | 25 | |||
(Gain) loss on translation of foreign currency denominated pension and other postretirement benefit obligations | -88 | 30 | -15 | |||
Gain on forgiveness of note payable | -12 | [1] | 0 | [1] | 0 | [1] |
Loss on extinguishment of debt, Net of unamortized premium | -59 | 0 | 0 | |||
Net planned major maintenance payments (Note 1) | -1 | -7 | -9 | |||
Premium related to debt redemptions | 0 | -5 | -16 | |||
Dividends received from equity method investees in excess of income | 6 | 2 | 9 | |||
Leasehold improvement incentive received from lessor | 0 | 5 | 0 | |||
Changes in working capital: | ' | ' | ' | |||
Accounts receivable | 62 | 91 | 87 | |||
Inventories | 16 | -21 | -39 | |||
Other current assets | 10 | 5 | 31 | |||
Accounts payable and accrued liabilities | -37 | -11 | -28 | |||
Other, net | -8 | -3 | 4 | |||
Net cash provided by operating activities | 206 | 266 | 198 | |||
Cash flows from investing activities: | ' | ' | ' | |||
Cash invested in fixed assets | -161 | -169 | -97 | |||
Disposition of investment in ACH Limited Partnership | 0 | 0 | 296 | |||
Disposition of our interest in our Mersey operations, net of cash | 0 | 14 | 0 | |||
Disposition of other assets | 4 | 36 | 19 | |||
Acquisition of Fibrek Inc., net of cash acquired | 0 | -24 | 0 | |||
Proceeds from holdback related to disposition of investment in Manicouagan Power Company (“MPCoâ€) | 0 | 0 | 29 | |||
Proceeds from insurance settlements | 4 | 0 | 8 | |||
Decrease (increase) in restricted cash | 8 | 76 | -2 | |||
Increase in deposit requirements for letters of credit, net | -2 | -12 | -8 | |||
Other investing activities, net | -4 | 4 | 0 | |||
Net cash (used in) provided by investing activities | -151 | -75 | 245 | |||
Cash flows from financing activities: | ' | ' | ' | |||
Issuance of long-term debt | 594 | 0 | 0 | |||
Premium paid on extinguishment of debt | -84 | 0 | 0 | |||
Payments of debt | -503 | -198 | -354 | |||
Payments of financing and credit facility fees | -9 | 0 | -3 | |||
Purchases of treasury stock | 0 | -67 | 0 | |||
Dividends and distribution to noncontrolling interests | -2 | -5 | -21 | |||
Acquisition of noncontrolling interest | 0 | -27 | -15 | |||
Contribution of capital from noncontrolling interest | 8 | 0 | 0 | |||
Net cash provided by (used in) financing activities | 4 | -297 | -393 | |||
Net increase (decrease) in cash and cash equivalents | 59 | -106 | 50 | |||
Cash and cash equivalents: | ' | ' | ' | |||
Beginning of year | 263 | 369 | 319 | |||
End of year | 322 | 263 | 369 | |||
Cash paid (received) during the year for: | ' | ' | ' | |||
Interest, including capitalized interest of $2, $2 and $1 in 2013, 2012 and 2011, respectively | 54 | 68 | 105 | |||
Income taxes, net | $2 | $0 | ($6) | |||
[1] | On March 11, 2013, we acquired the noncontrolling interest in CNC, which was previously owned 51% by us and included in our consolidated financial statements on a fully consolidated basis. As a result, CNC became a wholly-owned subsidiary of ours. In connection with this transaction, we recognized a gain on the forgiveness of a $12 million note issued by CNC. The acquisition of the noncontrolling interest in CNC was accounted for as an equity transaction. |
CONSOLIDATED_STATEMENTS_OF_CAS1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Cash Flows [Abstract] | ' | ' | ' |
Capitalized interest | $2 | $2 | $1 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Organization and Basis of Presentation | ' | ||||||||||||||||||||||||
Note 1. Organization and Basis of Presentation | |||||||||||||||||||||||||
Nature of operations | |||||||||||||||||||||||||
Resolute Forest Products Inc. (with its subsidiaries and affiliates, either individually or collectively, unless otherwise indicated, referred to as “Resolute Forest Products,” “we,” “our,” “us” or the “Company”) is incorporated in Delaware. We are a global leader in the forest products industry, with a diverse range of products, including newsprint, specialty papers, market pulp and wood products, which are marketed in close to 90 countries. We own or operate over 40 pulp and paper mills and wood products facilities in the United States, Canada and South Korea, and power generation assets in Canada. | |||||||||||||||||||||||||
AbitibiBowater Inc. (our predecessor entity) and all but one of its debtor affiliates successfully emerged from creditor protection proceedings under Chapter 11 of the United States Bankruptcy Code, as amended (“Chapter 11”) and the Companies’ Creditors Arrangement Act (Canada) (the “CCAA”), as applicable (collectively, the “Creditor Protection Proceedings”) on December 9, 2010 (the “Emergence Date”). The wholly-owned subsidiary operating the Mokpo, South Korea operations and almost all of the less than wholly-owned subsidiaries operated outside of the Creditor Protection Proceedings. We refer to AbitibiBowater Inc. and certain of its U.S. and Canadian subsidiaries as the “Debtors”. We refer to the Chapter 11 Debtors’ Second Amended Joint Plan of Reorganization under Chapter 11 of the Bankruptcy Code and the CCAA Debtors’ CCAA Plan of Reorganization and Compromise, in each case as amended and including all exhibits and supplements thereto, together as the “Plans of Reorganization”, each as a “Plan of Reorganization” and individually as the “Chapter 11 Reorganization Plan” and the “CCAA Reorganization Plan”, respectively. Pursuant to the Plans of Reorganization, we distributed on the Emergence date the shares of our common stock for the benefit of unsecured creditors in the Creditor Protection Proceedings and we established a reserve of shares for the benefit of holders of disputed claims. By the end of 2013, all disputed claims had been definitively resolved, and the distribution of shares from the disputed claim share reserve in respect thereof had been completed. The Debtors’ Chapter 11 cases are closed; we expect imminently the court-appointed monitor for the CCAA proceedings to apply to the court for its discharge in respect of those CCAA cases, bringing them to a close as well. | |||||||||||||||||||||||||
Financial statements | |||||||||||||||||||||||||
We have prepared our consolidated financial statements in accordance with United States generally accepted accounting principles (“U.S. GAAP”). All amounts are expressed in U.S. dollars, unless otherwise indicated. Certain prior period amounts in our Consolidated Balance Sheets, Consolidated Statements of Cash Flows and Notes to Consolidated Financial Statements have been reclassified to conform to the 2013 presentation. | |||||||||||||||||||||||||
Consolidation | |||||||||||||||||||||||||
Our consolidated financial statements include the accounts of Resolute Forest Products Inc. and its controlled subsidiaries. All significant transactions and balances between these companies have been eliminated. All consolidated subsidiaries are wholly-owned as of December 31, 2013 with the exception of the following: | |||||||||||||||||||||||||
Consolidated Subsidiary | Resolute Forest | Partner | Partner | ||||||||||||||||||||||
Products | Ownership | ||||||||||||||||||||||||
Ownership | |||||||||||||||||||||||||
Forest Products Mauricie L.P. | 93.20% | Cooperative Forestière du Haut Saint-Maurice | 6.80% | ||||||||||||||||||||||
Donohue Malbaie Inc. | 51% | NYT Capital Inc. | 49% | ||||||||||||||||||||||
Equity method investments | |||||||||||||||||||||||||
We account for our investments in affiliated companies where we have significant influence, but not control over their operations, using the equity method of accounting. | |||||||||||||||||||||||||
Change in accounting policy for planned major maintenance costs | |||||||||||||||||||||||||
In 2013, we changed our accounting policy for repair and maintenance costs associated with planned major maintenance activities. Previously, all repair and maintenance costs, including those associated with planned major maintenance, were expensed as incurred. We elected to change our accounting policy for planned major maintenance costs to the deferral method, whereby the costs of each planned major maintenance activity are amortized on a straight-line basis over the estimated period until the next planned major maintenance activity. All other routine repair and maintenance costs continue to be expensed as incurred. We believe that the deferral method is preferable as the economic benefit associated with planned major maintenance activities are more appropriately recognized over the period of future benefit, which is not limited to the period the expense is incurred. In addition, the deferral method enhances the comparability of our financial results with our peer companies. In accordance with the guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 250, “Accounting Changes and Error Corrections,” we have applied the change in accounting policy retroactively by adjusting our comparative consolidated financial statements for the effect of this change. As a result of the change, retained earnings as of December 31, 2011 increased by $6 million, while having no impact on our retained earnings as of December 31, 2010. | |||||||||||||||||||||||||
The effect of the change in accounting policy on our Consolidated Statements of Operations for the year ended December 31, 2013 was as follows: | |||||||||||||||||||||||||
(In millions, except per share amounts) | Before Accounting Policy Change | Adjustment | As | ||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | $ | 3,447 | $ | (1 | ) | $ | 3,446 | ||||||||||||||||||
Loss before income taxes | (116 | ) | 1 | (115 | ) | ||||||||||||||||||||
Income tax provision | (525 | ) | 1 | (524 | ) | ||||||||||||||||||||
Net loss including noncontrolling interests | (641 | ) | 2 | (639 | ) | ||||||||||||||||||||
Net loss attributable to Resolute Forest Products Inc. | (641 | ) | 2 | (639 | ) | ||||||||||||||||||||
Basic net loss per share attributable to Resolute Forest Products Inc. | (6.77 | ) | 0.02 | (6.75 | ) | ||||||||||||||||||||
Diluted net loss per share attributable to Resolute Forest Products Inc. | (6.77 | ) | 0.02 | (6.75 | ) | ||||||||||||||||||||
Comprehensive loss attributable to Resolute Forest Products Inc. | (298 | ) | 2 | (296 | ) | ||||||||||||||||||||
The effect of the change in accounting policy on our Consolidated Statements of Operations for the year ended December 31, 2012 was as follows: | |||||||||||||||||||||||||
(In millions, except per share amounts) | As Previously Reported | Adjustment | As | ||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | $ | 3,492 | $ | (7 | ) | $ | 3,485 | ||||||||||||||||||
Closure costs, impairment and other related charges | 180 | 5 | 185 | ||||||||||||||||||||||
Loss before income taxes | (74 | ) | 2 | (72 | ) | ||||||||||||||||||||
Income tax benefit | 38 | 1 | 39 | ||||||||||||||||||||||
Net loss including noncontrolling interests | (36 | ) | 3 | (33 | ) | ||||||||||||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | (2 | ) | 3 | 1 | |||||||||||||||||||||
Basic net (loss) income per share attributable to Resolute Forest Products Inc. | (0.02 | ) | 0.03 | 0.01 | |||||||||||||||||||||
Diluted net (loss) income per share attributable to Resolute Forest Products Inc. | (0.02 | ) | 0.03 | 0.01 | |||||||||||||||||||||
Comprehensive loss attributable to Resolute Forest Products Inc. | (321 | ) | 3 | (318 | ) | ||||||||||||||||||||
The effect of the change in accounting policy on our Consolidated Statements of Operations for the year ended December 31, 2011 was as follows: | |||||||||||||||||||||||||
(In millions, except per share amounts) | As Previously Reported | Adjustment | As | ||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | $ | 3,590 | $ | (9 | ) | $ | 3,581 | ||||||||||||||||||
Income before income taxes | 55 | 9 | 64 | ||||||||||||||||||||||
Income tax provision | (16 | ) | (3 | ) | (19 | ) | |||||||||||||||||||
Net income including noncontrolling interests | 39 | 6 | 45 | ||||||||||||||||||||||
Net income attributable to Resolute Forest Products Inc. | 41 | 6 | 47 | ||||||||||||||||||||||
Basic net income per share attributable to Resolute Forest Products Inc. | 0.42 | 0.06 | 0.48 | ||||||||||||||||||||||
Diluted net income per share attributable to Resolute Forest Products Inc. | 0.42 | 0.06 | 0.48 | ||||||||||||||||||||||
Comprehensive loss attributable to Resolute Forest Products Inc. | (262 | ) | 6 | (256 | ) | ||||||||||||||||||||
The effect of the change in accounting policy on our Consolidated Balance Sheets as of December 31, 2013 and December 31, 2012 was as follows: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(In millions) | Before Accounting Policy Change | Adjustment | As | As Previously Reported | Effect of Change | As | |||||||||||||||||||
Reported | Adjusted | ||||||||||||||||||||||||
Other current assets | $ | 33 | $ | 12 | $ | 45 | $ | 45 | $ | 11 | $ | 56 | |||||||||||||
Deferred income tax assets (non-current) | 1,267 | (1 | ) | 1,266 | 2,002 | (2 | ) | 2,000 | |||||||||||||||||
(Deficit) retained earnings | (603 | ) | 11 | (592 | ) | 38 | 9 | 47 | |||||||||||||||||
There was no impact on net cash provided by operating activities for all periods as a result of the change in accounting policy. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Summary of Significant Accounting Policies | ' | |
Note 2. Summary of Significant Accounting Policies | ||
Use of estimates | ||
In preparing our consolidated financial statements in accordance with U.S. GAAP, management is required to make accounting estimates based on assumptions, judgments and projections of future results of operations and cash flows. These estimates and assumptions affect the reported amounts of revenues and expenses during the periods presented and the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements. The most critical estimates relate to the assumptions underlying the benefit obligations of our pension and other postretirement benefit (“OPEB”) plans, the recoverability of deferred income tax assets and the carrying values of our long-lived assets. Estimates, assumptions and judgments are based on a number of factors, including historical experience, recent events, existing conditions, internal budgets and forecasts, projections obtained from industry research firms and other data that management believes are reasonable under the circumstances. Actual results could differ materially from those estimates under different assumptions or conditions. | ||
Cash and cash equivalents | ||
Cash and cash equivalents generally consist of direct obligations of the U.S. and Canadian governments and their agencies, demand deposits and other short-term, highly liquid securities with a maturity of three months or less from the date of purchase. | ||
Accounts receivable | ||
Accounts receivable are recorded at cost, net of an allowance for doubtful accounts that is based on expected collectibility, and such carrying value approximates fair value. | ||
Inventories | ||
Inventories are stated at the lower of cost or market value using the average cost method. Cost includes labor, materials and production overhead, which is based on the normal capacity of our production facilities. Unallocated overhead, including production overhead associated with abnormal production levels, is recognized in “Cost of sales, excluding depreciation, amortization and distribution costs” in our Consolidated Statements of Operations when incurred. | ||
Fixed assets | ||
Fixed assets acquired are stated at acquisition cost less accumulated depreciation and impairment. The cost of the fixed assets is reduced by any investment tax credits or government capital grants received. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets. We capitalize interest on borrowings during the construction period of major capital projects as part of the related asset and amortize the capitalized interest into earnings over the related asset’s remaining useful life. As discussed in Note 1, “Organization and Basis of Presentation – Change in accounting policy for planned major maintenance costs,” we elected to change our accounting policy for planned major maintenance costs to the deferral method, whereby the costs of each planned major maintenance activity are capitalized to “Other current assets” in our Consolidated Balance Sheets and amortized to “Cost of sales, excluding depreciation, amortization and distribution costs” in our Consolidated Statements of Operations on a straight-line basis over the estimated period until the next planned major maintenance activity. All other routine repair and maintenance costs are expensed as incurred. | ||
Environmental costs | ||
We expense environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. These costs are included in “Cost of sales, excluding depreciation, amortization and distribution costs” or “Other (expense) income, net” in our Consolidated Statements of Operations. Expenditures that extend the life of the related property are capitalized. We determine our liability on a site-by-site basis and record a liability at the time it is probable and can be reasonably estimated. Such accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are discounted to their present value when the amount and timing of expected cash payments are reliably determinable. | ||
Amortizable intangible assets | ||
Amortizable intangible assets are stated at cost less accumulated amortization. Amortization is provided on a straight-line basis over the estimated useful lives of the assets. | ||
Impairment of long-lived assets | ||
The unit of accounting for impairment testing for long-lived assets is its group, which includes fixed assets, amortizable intangible assets and liabilities directly related to those assets (herein defined as “asset group”). For asset groups that are held and used, that group represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other asset groups. For asset groups that are to be disposed of by sale or otherwise, that group represents assets to be disposed of together as a group in a single transaction and liabilities directly associated with those assets that will be transferred in the transaction. | ||
Long-lived assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value of an asset group may no longer be recoverable. The recoverability of an asset group that is held and used is tested by comparing the carrying value of the asset group to the sum of the estimated undiscounted future cash flows expected to be generated by that asset group. In estimating the undiscounted future cash flows, we use projections of cash flows directly associated with, and which are expected to arise as a direct result of, the use and eventual disposition of the asset group. If there are multiple plausible scenarios for the use and eventual disposition of an asset group, we assess the likelihood of each scenario occurring in order to determine a probability-weighted estimate of the undiscounted future cash flows. The principal assumptions include periods of operation, projections of product pricing, production levels and sales volumes, product costs, market supply and demand, foreign exchange rates, inflation and projected capital spending. Changes in any of these assumptions could have a material effect on the estimated undiscounted future cash flows expected to be generated by the asset group. If it is determined that an asset group is not recoverable, an impairment loss is recognized in the amount that the asset group’s carrying value exceeds its fair value. The fair value of a long-lived asset group is determined in accordance with our accounting policy for fair value measurements, as discussed below. If it is determined that the carrying value of an asset group is recoverable, we review and adjust, as necessary, the estimated useful lives of the assets in the group. | ||
When an asset group meets the criteria for classification as an asset held for sale, an impairment charge is recognized, if necessary, based on the excess of the asset group’s carrying value over the expected net proceeds from the sale (the estimated fair value minus the estimated costs to sell). | ||
Asset groups to be disposed of other than by sale are classified as held and used until the asset group is disposed or use of the asset group has ceased. | ||
Income taxes | ||
We use the asset and liability approach in accounting for income taxes. Under this approach, deferred income tax assets and liabilities are recognized for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. This approach also requires the recording of deferred tax assets related to operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted tax rates applicable when temporary differences and carryforwards are expected to be recovered or settled. We have not provided for U.S. income taxes on the undistributed earnings, if any, of our foreign subsidiaries, as we have specific plans for the reinvestment of such earnings. | ||
Valuation allowances are recognized to reduce deferred income tax assets to the amount that is more likely than not to be realized. In assessing the likelihood of realization, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, estimates of future taxable income, past operating results, and prudent and feasible tax planning strategies. | ||
Tax benefits related to uncertain tax positions are recorded when it is more likely than not, based on technical merits, that the position will be sustained upon examination by the relevant taxing authorities. The amount of tax benefit recognized may differ from the amount taken or expected to be taken on a tax return. These differences represent unrecognized tax benefits and are reviewed at each reporting period based on facts, circumstances and available evidence. We recognize interest and penalties accrued related to unrecognized tax benefits as a component of the income tax expense. | ||
Pension and OPEB obligations | ||
For our defined benefit plans, we recognize an asset or a liability for pension and OPEB obligations net of the fair value of plan assets. An asset is recognized for a plan’s over-funded status and a liability is recognized for a plan’s under-funded status. Changes in the funding status that have not been recognized in our net periodic benefit costs are reflected as an adjustment to our “Accumulated other comprehensive loss” in our Consolidated Balance Sheets. Net periodic benefit costs are recognized as employees render the services necessary to earn the pension and OPEB. Amounts we contribute to our defined contribution plans are expensed as incurred. | ||
Fair value measurements | ||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date, and is based on any principal market for the specific asset or liability. We consider the risk of non-performance of the obligor, which in some cases reflects our own credit risk, in determining fair value. In accordance with FASB ASC 820, “Fair Value Measurements and Disclosures,” we categorize assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. This fair value hierarchy is as follows: | ||
Level 1 - | Valuations based on quoted prices in active markets for identical assets and liabilities. | |
Level 2 - | Valuations based on observable inputs, other than Level 1 prices, such as quoted interest or currency exchange rates. | |
Level 3 - | Valuations based on significant unobservable inputs that are supported by little or no market activity, such as discounted cash flow methodologies based on internal cash flow forecasts. | |
The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used in the determination of fair value of our assets and liabilities, when required, maximize the use of observable inputs and minimize the use of unobservable inputs. | ||
Share-based compensation | ||
We amortize the fair value of our stock incentive awards over the requisite service period using the straight-line attribution approach. The requisite service period is reduced for those employees who are retirement eligible at the date of the grant or who will become retirement eligible during the vesting period and who will be entitled to continue vesting in their entire award upon retirement. The fair value of stock options is determined using a Black-Scholes option pricing formula, and the fair value of restricted stock units (“RSUs”) and deferred stock units (“DSUs”) is determined based on the market price of a share of our common stock on the grant date. We estimate forfeitures of stock incentive awards based on historical experience and recognize compensation cost only for those awards expected to vest. Estimated forfeitures are updated to reflect new information or actual experience, as it becomes available. | ||
Any excess tax benefits related to share-based compensation gets recorded in the additional paid-in capital (“APIC”) pool and is available to absorb future tax related deficiencies. If the amount of future tax deficiencies is greater than the available APIC pool, we would record the excess as income tax expense in our Consolidated Statements of Operations. For each of the years ended December 31, 2013, 2012 and 2011 the balance of the APIC pool was zero. | ||
Any cash flows resulting from the tax benefit that arise from the exercise of stock options and the vesting of RSUs and DSUs that exceed the compensation cost recognized (excess tax benefits) are classified as financing cash flows. | ||
Revenue recognition | ||
Pulp, paper and wood products are delivered to our customers in the United States and Canada directly from our mills by either truck or rail. Pulp and paper products delivered to our international customers by ship are sold with international shipping terms. Revenue is recorded when risk of loss and title of the product passes to the customer. For sales with the terms free on board (“FOB”) shipping point, revenue is recorded when the product leaves the mill, whereas for sales transactions FOB destination, revenue is recorded when the product is delivered to the customer’s delivery site, when the title and risk of loss are transferred. Sales are reported net of allowances and rebates, and the following criteria must be met before they are recognized: persuasive evidence of an arrangement exists, delivery has occurred and we have no remaining obligations, prices are fixed or determinable and collectibility is reasonably assured. Sales of our other products (green power produced from renewable sources, recovered paper, wood chips and other wood related products) are recognized when the products are delivered and are included in “Cost of sales, excluding depreciation, amortization and distribution costs” in our Consolidated Statements of Operations. | ||
Net (loss) income per share | ||
We calculate basic net (loss) income per share attributable to Resolute Forest Products Inc. common shareholders by dividing our net (loss) income by the weighted-average number of outstanding common shares. We calculate diluted net income per share attributable to Resolute Forest Products Inc. common shareholders by dividing our net income by the weighted-average number of outstanding common shares, as adjusted for the incremental shares attributable to the dilutive effects of potentially dilutive securities (such as stock options, RSUs and DSUs). The incremental shares are calculated using the treasury stock method (stock options, RSUs and DSUs). To calculate diluted net loss per share attributable to Resolute Forest Products Inc. common shareholders, no adjustments to our basic weighted-average number of outstanding common shares are made, since the impact of potentially dilutive securities (such as stock options, RSUs and DSUs) would be antidilutive. | ||
Translation | ||
The functional currency of the majority of our operations is the U.S. dollar. However, some of these operations maintain their books and records in their local currency in accordance with certain statutory requirements. Non-monetary assets and liabilities of these operations and the related income and expense items such as depreciation and amortization are remeasured into U.S. dollars using historical exchange rates. Remaining assets and liabilities are remeasured into U.S. dollars using the exchange rates as of the balance sheet date. Remaining income and expense items are remeasured into U.S. dollars using an average exchange rate for the period. Gains and losses from foreign currency transactions and from remeasurement of the balance sheet are reported as “Other (expense) income, net” in our Consolidated Statements of Operations. | ||
The functional currency of all other operations is their local currency. Assets and liabilities of these operations are translated into U.S. dollars at the exchange rates in effect as of the balance sheet dates. Income and expense items are translated at average daily or monthly exchange rates for the period. The resulting translation gains or losses are recognized as a component of equity in “Accumulated other comprehensive loss.” | ||
Distribution costs | ||
Distribution costs represent costs associated with handling finished goods and shipping products to customers. Such costs are included in “Distribution costs” in our Consolidated Statements of Operations. |
Acquisition_of_Fibrek_Inc
Acquisition of Fibrek Inc. | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Acquisition of Fibrek Inc. | ' | ||||||||
Note 3. Acquisition of Fibrek Inc. | |||||||||
On May 2, 2012, in connection with an offer to purchase all of the issued and outstanding shares of Fibrek Inc. (“Fibrek”), a producer and marketer of virgin and recycled kraft pulp operating three mills, we acquired a controlling interest in Fibrek and began consolidating its results of operations, financial position and cash flows in our consolidated financial statements. | |||||||||
Our acquisition of Fibrek was achieved in stages. In connection with the offer, between April 11, 2012 and April 25, 2012, we acquired approximately 48.8% of the then outstanding Fibrek shares. On May 2, 2012 (the “acquisition date”), we acquired additional shares of Fibrek, after which we owned a controlling interest in Fibrek (approximately 50.1% of the then outstanding Fibrek shares) and Fibrek became a consolidated subsidiary. After May 2, 2012, we acquired additional shares of Fibrek and, as of May 17, 2012, the offer expiry date, we owned approximately 74.6% of the then outstanding Fibrek shares. On July 31, 2012, we completed the second step transaction for the remaining 25.4% of the outstanding Fibrek shares. | |||||||||
As aggregate consideration for all of the Fibrek shares we purchased, we distributed approximately 3.3 million shares of our common stock and Cdn$63 million ($63 million, based on the exchange rates in effect on each of the dates we acquired the shares of Fibrek) in cash. See Note 16, “Commitments and Contingencies,” for additional information. | |||||||||
The following summarizes the fair value as of the acquisition date of all of the consideration transferred through May 2, 2012 to acquire our controlling interest in Fibrek: | |||||||||
(In millions) | |||||||||
Cash | $ | 36 | |||||||
Common stock issued (1.9 million shares) | 24 | ||||||||
$ | 60 | ||||||||
The acquisition-date fair value of our common stock issued as part of the consideration transferred for Fibrek was determined based on the closing market price of our common stock on the acquisition date. | |||||||||
The total purchase price was allocated to the identifiable assets acquired and liabilities assumed based on our estimates of their fair values on the acquisition date. | |||||||||
The following summarizes our allocation of the purchase price to the fair value of assets acquired and liabilities assumed: | |||||||||
(In millions) | |||||||||
Cash and cash equivalents | $ | 12 | |||||||
Accounts receivable | 60 | ||||||||
Inventories | 63 | ||||||||
Other current assets | 2 | ||||||||
Current assets acquired | 137 | ||||||||
Fixed assets | 161 | ||||||||
Amortizable intangible assets | 52 | ||||||||
Other assets | 1 | ||||||||
Total assets acquired | $ | 351 | |||||||
Accounts payable and accrued liabilities | $ | 70 | |||||||
Short-term bank debt | 36 | ||||||||
Current portion of long-term debt | 2 | ||||||||
Current liabilities assumed | 108 | ||||||||
Long-term debt, net of current portion | 83 | ||||||||
Pension and other postretirement benefit obligations | 39 | ||||||||
Other long-term liabilities | 1 | ||||||||
Total liabilities assumed | $ | 231 | |||||||
Net assets acquired | 120 | ||||||||
Fair value of consideration transferred, including our previously-held interest of $58 million | 60 | ||||||||
Fair value of noncontrolling interest | 60 | ||||||||
$ | 120 | ||||||||
The fair value of the consideration transferred plus the fair value of the noncontrolling interest approximated the fair value of the net assets acquired. Therefore, no goodwill or gain was recognized at the acquisition date. The acquisition-date fair value of the noncontrolling interest in Fibrek was determined based on the market price we paid for Fibrek’s common stock on the acquisition date. | |||||||||
Upon acquisition, we identified amortizable intangible assets related to energy contracts, which had a weighted-average amortization period of approximately 23 years. The fair value of the amortizable intangible assets was determined based on the discounted cash flow method. | |||||||||
Subsequent to acquisition date, we acquired the remaining noncontrolling interest in Fibrek, which we accounted for as equity transactions whereby we adjusted the carrying amount of the noncontrolling interest in Fibrek to reflect the change in our ownership interest in Fibrek. As consideration for this additional equity interest in Fibrek, we distributed approximately 1.4 million shares of our common stock and Cdn$27 million ($27 million, based on the exchange rates in effect on each of the dates we acquired the shares of Fibrek) in cash. Transaction costs of approximately $1 million associated with the acquisition of the noncontrolling interest in Fibrek were recorded in “Additional paid-in capital” in our Consolidated Balance Sheet as of December 31, 2012. | |||||||||
Fibrek’s results of operations have been included in our consolidated financial statements beginning on the acquisition date and are included in the market pulp segment. The amount of Fibrek’s sales and net income included in our Consolidated Statements of Operations were $456 million and $40 million, respectively for the year ended December 31, 2013. The amount of Fibrek's sales and net loss included in our Consolidated Statements of Operations were $268 million and $9 million, respectively, for the year ended December 31, 2012. | |||||||||
The following unaudited pro forma information for the years ended December 31, 2012 and 2011 represents our results of operations as if the acquisition of Fibrek had occurred on January 1, 2011. This pro forma information does not purport to be indicative of the results that would have occurred for the periods presented or that may be expected in the future. | |||||||||
(Unaudited, in millions except per share data) | 2012 | 2011 | |||||||
Sales | $ | 4,669 | $ | 5,300 | |||||
Net (loss) income attributable to Resolute Forest Products Inc. | (2 | ) | 53 | ||||||
Basic net (loss) income per share attributable to Resolute Forest Products Inc. | (0.02 | ) | 0.53 | ||||||
Diluted net (loss) income per share attributable to Resolute Forest Products Inc. | (0.02 | ) | 0.53 | ||||||
The unaudited pro forma net (loss) income attributable to Resolute Forest Products Inc. for the years ended December 31, 2012 and 2011 excludes $19 million and $7 million, respectively, of both our and Fibrek’s transaction costs associated with the acquisition. |
Amortizable_Intangible_Assets_
Amortizable Intangible Assets, Net | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Finite-Lived Intangible Assets, Net [Abstract] | ' | |||||||||||||||||||||||||
Amortizable Intangible Assets, Net | ' | |||||||||||||||||||||||||
Note 4. Amortizable Intangible Assets, Net | ||||||||||||||||||||||||||
Amortizable intangible assets, net as of December 31, 2013 and 2012 were comprised of the following: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Estimated | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Life | Carrying | Amortization | Carrying | Amortization | ||||||||||||||||||||||
(Years) | Value | Value | ||||||||||||||||||||||||
Water rights | 10 – 40 | $ | 19 | $ | 2 | $ | 17 | $ | 19 | $ | 1 | $ | 18 | |||||||||||||
Energy contracts | 15 – 25 | 52 | 3 | 49 | 52 | 1 | 51 | |||||||||||||||||||
$ | 71 | $ | 5 | $ | 66 | $ | 71 | $ | 2 | $ | 69 | |||||||||||||||
In order to operate our hydroelectric generating facility, we draw water from various rivers in Québec. The use of such government-owned waters is governed by water power leases/agreements with the province of Québec, which set out the terms, conditions and fees (as applicable). Terms of these agreements typically range from 10 to 25 years and are generally renewable, under certain conditions. In some cases, the agreements are contingent on the continued operation of the related paper mill and a minimum level of capital spending in the region. | ||||||||||||||||||||||||||
In connection with our acquisition of Fibrek, we identified amortizable intangible assets related to energy contracts. See Note 3, “Acquisition of Fibrek Inc.,” for additional information. | ||||||||||||||||||||||||||
Amortization expense related to amortizable intangible assets for the year ended December 31, 2013 was approximately $3 million and was $1 million for the years ended December 31, 2012 and 2011, respectively. Amortization expense related to amortizable intangible assets is estimated to be approximately $3 million per year for each of the next five years (excluding any accelerated amortization charges that may be required, as discussed above). |
Closure_Costs_Impairment_and_O
Closure Costs, Impairment and Other Related Charges | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||||||
Closure Costs, Impairment and Other Related Charges | ' | ||||||||||||||||||||
Note 5. Closure Costs, Impairment and Other Related Charges | |||||||||||||||||||||
Closure costs, impairment and other related charges for the year ended December 31, 2013, were comprised of the following: | |||||||||||||||||||||
(In millions) | Impairment of Assets (1) | Accelerated Depreciation | Pension Plan Curtailment Losses | Severance and Other Costs | Total | ||||||||||||||||
Indefinite idlings and extended market-related outage: | |||||||||||||||||||||
Paper machine in Calhoun, Tennessee (2) | $ | — | $ | 44 | $ | — | $ | 6 | $ | 50 | |||||||||||
Kraft mill and paper machines in Fort Frances, Ontario | — | — | 2 | 15 | 17 | ||||||||||||||||
Permanent closure: | |||||||||||||||||||||
Paper machine in Iroquois Falls, Ontario (3) | — | 2 | — | 1 | 3 | ||||||||||||||||
Restructuring initiative: | |||||||||||||||||||||
Baie-Comeau, Québec paper mill | — | — | 1 | 1 | 2 | ||||||||||||||||
Other | 11 | 4 | — | 2 | 17 | ||||||||||||||||
$ | 11 | 50 | $ | 3 | $ | 25 | $ | 89 | |||||||||||||
-1 | Due to declining market conditions, we recorded long-lived assets impairment charges related to our recycling assets to reduce the carrying value of the assets to their estimated fair value, which was determined based on estimated market prices for similar assets. | ||||||||||||||||||||
(2) | Following our acquisition of the noncontrolling interest in Calhoun Newsprint Company (“CNC”), we indefinitely idled a paper machine at the Calhoun mill on March 12, 2013, resulting in accelerated depreciation charges to reduce the carrying value of the assets to reflect their revised estimated remaining useful lives. In 2014, we began to use the machine on an intermittent basis. For additional information regarding our acquisition of the noncontrolling interest in CNC, see Note 7, “Other (Expense) Income, Net.” | ||||||||||||||||||||
(3) | In October 24, 2013, we announced the permanent closure of a paper machine in Iroquois Falls. The closure is expected to take effect within 6 months of the announcement date. | ||||||||||||||||||||
Closure costs, impairment and other related charges for the year ended December 31, 2012, were comprised of the following: | |||||||||||||||||||||
(In millions) | Impairment of Assets | Accelerated Depreciation | Pension and OPEB Plan Curtailment and Settlement Losses | Severance and Other Costs | Total | ||||||||||||||||
Indefinite idlings: | |||||||||||||||||||||
Mersey operations, Nova Scotia (1) | $ | 72 | $ | — | $ | 8 | $ | 15 | $ | 95 | |||||||||||
Kraft mill and paper machine in Fort Frances (2) | 36 | 2 | 1 | 6 | 45 | ||||||||||||||||
Paper machine in Catawba, South Carolina (2) | 1 | — | — | — | 1 | ||||||||||||||||
Permanent closure: | |||||||||||||||||||||
Paper machine in Laurentide, Québec | — | 18 | — | 4 | 22 | ||||||||||||||||
Restructuring initiatives: | |||||||||||||||||||||
Catawba paper mill | — | — | — | 4 | 4 | ||||||||||||||||
Baie-Comeau, paper mill | — | — | 3 | 1 | 4 | ||||||||||||||||
Lump-sum payments to vested terminated employees (Note 14) | — | — | 7 | — | 7 | ||||||||||||||||
Other (2) | 2 | 1 | 2 | 2 | 7 | ||||||||||||||||
$ | 111 | $ | 21 | $ | 21 | $ | 32 | $ | 185 | ||||||||||||
-1 | We recorded long-lived asset impairment charges (including a $7 million write-down of an asset retirement obligation for environmental liabilities) related to the indefinite idling and subsequent sale of our interest in our Mersey operations, to reduce the carrying value of our net assets to fair value less costs to sell. | ||||||||||||||||||||
-2 | We recorded long-lived assets impairment charges to reduce the carrying value of the assets to their estimated fair value, which was determined based on the assets’ estimated salvage values. | ||||||||||||||||||||
Closure costs, impairment and other related charges for the year ended December 31, 2011, were comprised of the following: | |||||||||||||||||||||
(In millions) | Impairment of Assets (1) | Accelerated Depreciation | Pension and OPEB Plan Curtailment Losses | Severance and Other Costs | Total | ||||||||||||||||
Permanent closures: | |||||||||||||||||||||
Paperboard production in Coosa Pines, Alabama | $ | 7 | $ | 1 | $ | 3 | $ | 3 | $ | 14 | |||||||||||
Paper machine in Kénogami, Québec | — | 3 | 2 | 5 | 10 | ||||||||||||||||
Paper machine in Baie-Comeau | — | 2 | — | — | 2 | ||||||||||||||||
Restructuring initiatives: | |||||||||||||||||||||
Mokpo, South Korea paper mill | 6 | — | — | 3 | 9 | ||||||||||||||||
Mersey operations | — | — | 3 | 3 | 6 | ||||||||||||||||
Calhoun | 3 | — | — | — | 3 | ||||||||||||||||
Other | — | 2 | — | — | 2 | ||||||||||||||||
$ | 16 | $ | 8 | $ | 8 | $ | 14 | $ | 46 | ||||||||||||
(1) | We recorded long-lived assets impairment charges to reduce the carrying value of the assets to their estimated fair value, which was determined based on the assets’ estimated sale or salvage values. |
Net_Gain_on_Disposition_of_Ass
Net Gain on Disposition of Assets | 12 Months Ended |
Dec. 31, 2013 | |
Gain (Loss) on Disposition of Assets [Abstract] | ' |
Net Gain on Disposition of Assets | ' |
Note 6. Net Gain on Disposition of Assets | |
During 2013, we sold a parcel of land in Fort Frances and various other assets for total consideration of $2 million, resulting in a net gain on disposition of assets of approximately $2 million. | |
During 2012, we sold two parcels of land in Gatineau, Québec, our Petit Saguenay, Québec sawmill, our recycling division’s assets located in Phoenix, Arizona, a portion of our Mersey timberlands and subsequently our interest in our Mersey operations and various other assets for total consideration of $55 million, resulting in a net gain on disposition of assets of $35 million. | |
During 2011, we sold our investment in ACH Limited Partnership (“ACH”), our Alabama River, Alabama paper mill, our Kenora, Ontario paper mill and various other assets for cash proceeds of $315 million, resulting in a net gain on disposition of assets of $3 million. |
Other_Expense_Income_Net
Other (Expense) Income, Net | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||
Other (Expense) Income, Net | ' | ||||||||||||
Note 7. Other (Expense) Income, Net | |||||||||||||
Other (expense) income, net for the years ended December 31, 2013, 2012 and 2011 was comprised of the following: | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
Foreign exchange (loss) gain | $ | (24 | ) | $ | 17 | $ | (21 | ) | |||||
Net (loss) gain on extinguishment of debt (Note 13) | (59 | ) | 2 | 6 | |||||||||
Post-emergence costs (1) | (1 | ) | (11 | ) | (47 | ) | |||||||
Gain on forgiveness of note payable (2) | 12 | — | — | ||||||||||
Gain on liquidation settlement (3) | 12 | — | — | ||||||||||
Income from equity method investments | 3 | 5 | 2 | ||||||||||
Interest income | 1 | 5 | 3 | ||||||||||
Miscellaneous (expense) income | (6 | ) | 4 | 9 | |||||||||
$ | (62 | ) | $ | 22 | $ | (48 | ) | ||||||
(1) | Primarily represents legal and other professional fees for the resolution and settlement of disputed creditor claims, as well as costs for other post-emergence activities associated with the Creditor Protection Proceedings. | ||||||||||||
(2) | On March 11, 2013, we acquired the noncontrolling interest in CNC, which was previously owned 51% by us and included in our consolidated financial statements on a fully consolidated basis. As a result, CNC became a wholly-owned subsidiary of ours. In connection with this transaction, we recognized a gain on the forgiveness of a $12 million note issued by CNC. The acquisition of the noncontrolling interest in CNC was accounted for as an equity transaction. | ||||||||||||
(3) | On February 2, 2010, Bridgewater Paper Company Limited (“BPCL”), a subsidiary of ours, filed for administration in the United Kingdom pursuant to the United Kingdom Insolvency Act 1986, as amended. As a result, we became a creditor of BPCL and lost control over their operations. In connection with our claims, we received a liquidation settlement of $12 million during 2013. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Accumulated Other Comprehensive Loss | ' | ||||||||||||||||
Note 8. Accumulated Other Comprehensive Loss | |||||||||||||||||
The change in our accumulated other comprehensive loss by component (net of tax) for the year ended December 31, 2013 was as follows: | |||||||||||||||||
(In millions) | Unamortized Prior Service Credits (1)(3) | Unamortized Actuarial Losses (1)(2)(4)(5) | Foreign Currency Translation | Total | |||||||||||||
Balance as of December 31, 2012 | $ | 21 | $ | (640 | ) | $ | 5 | $ | (614 | ) | |||||||
Other comprehensive income (loss) before reclassifications | 1 | 328 | (4 | ) | 325 | ||||||||||||
Amounts reclassified from accumulated other comprehensive loss (6) | (4 | ) | 22 | — | 18 | ||||||||||||
Net current period other comprehensive (loss) income | (3 | ) | 350 | (4 | ) | 343 | |||||||||||
Balance as of December 31, 2013 | $ | 18 | $ | (290 | ) | $ | 1 | $ | (271 | ) | |||||||
-1 | In 2013, following the introduction of the health insurance exchange system, we approved an amendment to our U.S. OPEB plan, whereby salaried post-65 retirees will be provided Medicare coverage via a Medicare Exchange program, effective January 1, 2014. As a result of this plan amendment, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013, were decreased by $57 million and $35 million (net of tax of $22 million), respectively, and consisted of $13 million (net of tax of $8 million ) of unamortized prior service credits and $22 million (net of tax of $14 million) of unamortized actuarial losses. | ||||||||||||||||
-2 | In 2013, we announced a workforce reduction at our Baie-Comeau paper mill, which will result in the elimination of approximately 90 positions. As a result, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013 were decreased by $8 million and $6 million (net of tax of $2 million), respectively. | ||||||||||||||||
-3 | Following the restart of our previously closed Gatineau paper mill, 119 employees were reinstated to our pension plans in 2013. As a result, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013 were increased by $18 million and $13 million (net of tax of $5 million), respectively. | ||||||||||||||||
-4 | We recorded certain adjustments associated with our previously reported pension and OPEB obligations in 2013. As a result, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013 were decreased by $27 million and $17 million (net of tax of $10 million), respectively. | ||||||||||||||||
(5) | On January 14, 2014, we announced an extended period of market-related outage at a paper mill in Fort Frances, which, if the mill remains idled, would result in the elimination of approximately 150 positions. As a result, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013 was decreased by $27 million and $20 million (net of tax of $7 million), respectively. | ||||||||||||||||
-6 | See the table below for details about these reclassifications. | ||||||||||||||||
The reclassifications out of accumulated other comprehensive loss for the year ended December 31, 2013 were comprised of the following: | |||||||||||||||||
(In millions) | Amounts Reclassified From Accumulated Other Comprehensive Loss | Affected Line in the Consolidated Statements of Operations | |||||||||||||||
Unamortized Prior Service Credits | |||||||||||||||||
Amortization and curtailments of prior service credits | $ | (3 | ) | Cost of sales, excluding depreciation, amortization and distribution costs (1) | |||||||||||||
(3 | ) | Closure costs, impairment and other related charges (1) | |||||||||||||||
2 | Income tax (provision) benefit | ||||||||||||||||
$ | (4 | ) | Net of tax | ||||||||||||||
Unamortized Actuarial Losses | |||||||||||||||||
Amortization and curtailments of actuarial losses | $ | 23 | Cost of sales, excluding depreciation, amortization and distribution costs (1) | ||||||||||||||
7 | Closure costs, impairment and other related charges (1) | ||||||||||||||||
(8 | ) | Income tax (provision) benefit | |||||||||||||||
$ | 22 | Net of tax | |||||||||||||||
Total Reclassifications | $ | 18 | Net of tax | ||||||||||||||
-1 | These items are included in the computation of net periodic benefit cost related to our pension and OPEB plans summarized in Note 14, “Pension and Other Postretirement Benefit Plans. |
Net_Loss_Income_Per_Share
Net (Loss) Income Per Share | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Earnings Per Share [Abstract] | ' | ||||||
Net (Loss) Income Per Share | ' | ||||||
Note 9. Net (Loss) Income Per Share | |||||||
The weighted-average number of common shares outstanding used to calculate basic and diluted net (loss) income per share attributable to Resolute Forest Products Inc. common shareholders for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||
(In millions) | 2013 | 2012 | 2011 | ||||
Basic weighted-average number of common shares outstanding | 94.7 | 97.4 | 97.1 | ||||
Diluted weighted-average number of common shares outstanding | 94.7 | 97.5 | 97.1 | ||||
No adjustments to net (loss) income attributable to Resolute Forest Products Inc. common shareholders were necessary to calculate basic and diluted net (loss) income per share for all periods presented. | |||||||
The weighted-average number of option shares and equity-classified RSUs and DSUs outstanding for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||
(In millions) | 2013 (1) | 2012 (2) | 2011 (2) | ||||
Option shares | 2 | 1.5 | 0.9 | ||||
RSUs and DSUs | 1 | 0.8 | 0.4 | ||||
(1) | These option shares and RSUs and DSUs were excluded from the calculation of diluted net loss per share as the impact would have been antidilutive. | ||||||
(2) | The dilutive impact of these option shares and RSUs and DSUs on the weighted-average number of common shares outstanding used to calculate diluted net income per share was nominal. |
Inventories_Net
Inventories, Net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories, Net | ' | ||||||||
Note 10. Inventories, Net | |||||||||
Inventories, net as of December 31, 2013 and 2012 were comprised of the following: | |||||||||
(In millions) | 2013 | 2012 | |||||||
Raw materials and work in process | $ | 153 | $ | 181 | |||||
Finished goods | 195 | 201 | |||||||
Mill stores and other supplies | 181 | 176 | |||||||
$ | 529 | $ | 558 | ||||||
In 2013, we recorded charges for write-downs of mill stores and other supplies of $11 million primarily related to the indefinite idling of a paper machine in Calhoun and an extended period of market-related outage for a paper machine in Fort Frances. In 2012, we recorded charges of $12 million for write-downs of mill stores and other supplies as a result of the indefinite idling of our Mersey newsprint mill, the permanent closure of a paper machine at our Laurentide paper mill and the indefinite idling of the kraft mill and a paper machine at our Fort Frances pulp and paper mill. These charges were included in “Cost of sales, excluding depreciation, amortization and distribution costs” in our Consolidated Statements of Operations. |
Fixed_Assets_Net
Fixed Assets, Net | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Fixed Assets, Net | ' | |||||||||
Note 11. Fixed Assets, Net | ||||||||||
Fixed assets, net as of December 31, 2013 and 2012 were comprised of the following: | ||||||||||
(Dollars in millions) | Range of Estimated Useful Lives in Years | 2013 | 2012 | |||||||
Land and land improvements | 1 – 10 | $ | 89 | $ | 88 | |||||
Buildings | 7 – 40 | 291 | 289 | |||||||
Machinery and equipment | 3 – 40 | 2,239 | 2,090 | |||||||
Hydroelectric power plants | 10 – 40 | 286 | 283 | |||||||
Timberlands and timberlands improvements | 4 – 20 | 83 | 70 | |||||||
Construction in progress | 61 | 91 | ||||||||
3,049 | 2,911 | |||||||||
Less: Accumulated depreciation | (760 | ) | (471 | ) | ||||||
$ | 2,289 | $ | 2,440 | |||||||
Accounts_Payable_and_Accrued_L
Accounts Payable and Accrued Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accounts Payable and Accrued Liabilities | ' | ||||||||
Note 12. Accounts Payable and Accrued Liabilities | |||||||||
Accounts payable and accrued liabilities as of December 31, 2013 and 2012 were comprised of the following: | |||||||||
(In millions) | 2013 | 2012 | |||||||
Trade accounts payable | $ | 361 | $ | 368 | |||||
Payroll, bonuses and severance payable | 97 | 109 | |||||||
Accrued interest | 5 | 12 | |||||||
Pension and OPEB obligations | 24 | 30 | |||||||
Income and other taxes payable | 6 | 8 | |||||||
Claims payable | — | 4 | |||||||
Other | 40 | 50 | |||||||
$ | 533 | $ | 581 | ||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
Note 13. Long-Term Debt | |||||||||
Overview | |||||||||
Long-term debt, including current portion, as of December 31, 2013 and 2012, was comprised of the following: | |||||||||
(In millions) | 2013 | 2012 | |||||||
5.875% senior notes due 2023: | |||||||||
Principal amount | $ | 600 | $ | — | |||||
Unamortized discount | (5 | ) | — | ||||||
Total senior notes due 2023 | 595 | — | |||||||
10.25% senior secured notes due 2018: | |||||||||
Principal amount | — | 501 | |||||||
Unamortized premium | — | 27 | |||||||
Total senior secured notes due 2018 | — | 528 | |||||||
Other debt: | |||||||||
PSIF – Investissement Québec loan | 1 | 3 | |||||||
Capital lease obligation | 3 | 3 | |||||||
Total other debt | 4 | 6 | |||||||
Total debt | 599 | 534 | |||||||
Less: Current portion of long-term debt | (2 | ) | (2 | ) | |||||
Long-term debt, net of current portion | $ | 597 | $ | 532 | |||||
Senior notes | |||||||||
2023 Notes | |||||||||
On May 8, 2013, we issued $600 million aggregate principal amount of 5.875% senior notes due 2023 (the “2023 Notes”) pursuant to an indenture as of that date (the “indenture”). Upon their issuance, the 2023 Notes were recorded at their fair value of $594 million, which reflected a discount of $6 million that is being amortized to interest expense using the interest method over the term of the notes, resulting in an effective interest rate of 6.0%. Interest on the notes is payable semi-annually on May 15 and November 15 of each year, beginning November 15, 2013, until their maturity date of May 15, 2023. | |||||||||
The notes are guaranteed by all of our existing and subsequently acquired or organized direct or indirect wholly-owned U.S. subsidiaries (the “guarantors”) that guarantee the ABL Credit Facility (as defined and discussed below). The notes are unsecured and effectively junior to indebtedness under the ABL Credit Facility to the extent of the value of the collateral that secures the ABL Credit Facility and to future secured indebtedness. In addition, the notes are structurally subordinated to all existing and future liabilities of our subsidiaries that do not guarantee the notes. | |||||||||
The terms of the indenture impose certain restrictions, subject to a number of exceptions and qualifications, including limits on our ability to: incur, assume or guarantee additional indebtedness; issue redeemable stock and preferred stock; pay dividends or make distributions or redeem or repurchase capital stock; prepay, redeem or repurchase certain debt; make loans and investments; incur liens; issue dividends, make loans or transfer assets from our subsidiaries; sell or otherwise dispose of assets, including capital stock of subsidiaries; consolidate or merge with or into, or sell substantially all of our assets to, another person; enter into transactions with affiliates; and enter into new lines of business. | |||||||||
At any time prior to May 15, 2017, we may redeem some or all of the notes at a redemption price of 100% of the principal amount, plus accrued and unpaid interest and a “make-whole” premium. We may redeem up to 35% of the notes before May 15, 2016 using proceeds from certain equity offerings at a price of 105.875% of the principal amount. In the event of a change of control, each holder will have the right to require us to repurchase all or any part of that holder’s notes at a purchase price in cash equal to 101% of the aggregate principal amount of the notes plus any accrued and unpaid interest. If we sell certain of our assets and do not use the proceeds to pay down certain indebtedness, purchase additional assets or make capital expenditures, each as specified in the indenture, we must offer to purchase the notes at a redemption price of 100% of the principal amount thereof plus accrued and unpaid interest with the net cash proceeds from the asset sale. | |||||||||
On or after May 15, 2017, the 2023 Notes will be redeemable, in whole or in part, at redemption prices equal to a percentage of the principal amount plus accrued and unpaid interest, as follows: | |||||||||
Year (beginning May 15) | Redemption Price | ||||||||
2017 | 104.41% | ||||||||
2018 | 102.94% | ||||||||
2019 | 101.47% | ||||||||
2020 and thereafter | 100.00% | ||||||||
In connection with the offering of the 2023 Notes, we and the guarantors entered into a registration rights agreement, dated as of May 8, 2013, with the initial purchasers of the 2023 Notes. Under the terms of the registration rights agreement, we agreed to use our commercially reasonable efforts to file with the SEC and cause to become effective a registration statement relating to an offer (which we refer to as the “exchange offer”) to: (i) exchange the 2023 Notes for registered notes (which we refer to as the “exchange notes”), with substantially the same terms as the 2023 Notes; and (ii) exchange the guarantees related to the 2023 Notes for registered guarantees relating to the exchange notes, with substantially the same terms as the original guarantees. We have agreed to use our commercially reasonable efforts to cause the exchange offer to be completed within 400 days after the issuance of the 2023 Notes. In addition, we have agreed to file (and seek effectiveness of) a shelf registration statement, in certain circumstances, that would allow certain holders to offer some or all of the 2023 Notes to the public. | |||||||||
If the exchange offer is not so completed, or if the shelf registration statement is not effective in the required circumstances, the annual interest rate on the 2023 Notes will increase by 0.25% per annum for the first 90-day period following the event triggering the increase. The interest rate on the 2023 Notes will increase by 0.25% per annum at the beginning of each subsequent 90-day period, up to a maximum of 1.0% additional interest per annum, until the exchange offer is completed or the shelf registration statement is filed, as applicable. | |||||||||
The fair value of the 2023 Notes was $554 million as of December 31, 2013 and was determined by reference to over-the-counter prices (Level 2). | |||||||||
In connection with the issuance of the notes, we incurred fees of approximately $9 million, which were recorded as deferred financing costs in “Other assets” in our Consolidated Balance Sheet as of December 31, 2013, and are being amortized to interest expense using the interest method over the term of the notes. | |||||||||
2018 Notes | |||||||||
In connection with our emergence from the Creditor Protection Proceedings in 2010, we issued $850 million in aggregate principal amount of 10.25% senior secured notes, with a maturity date of October 15, 2018 (the “2018 Notes”). On June 13, 2011, in accordance with the terms of the 2018 Notes indenture, we applied the first $100 million of net proceeds from our May 27, 2011 sale of our investment in ACH Limited Partnership to redeem $94 million of principal amount of the 2018 Notes at a redemption price of 105% of the principal amount, plus accrued and unpaid interest. Additionally, on each of June 29, 2011, November 4, 2011 and October 10, 2012, we redeemed $85 million of principal amount of the 2018 Notes at a redemption price of 103% of the principal amount, plus accrued and unpaid interest. | |||||||||
On May 8, 2013, we used the proceeds of the sale of the 2023 Notes to purchase $496 million aggregate principal amount of the 2018 Notes, or 99% of the outstanding amount, in connection with the tender offer and consent solicitation that expired on May 21, 2013. Aggregate consideration for the purchase was $584 million, including accrued and unpaid interest of $4 million, and in connection therewith, we entered into a supplemental indenture to implement certain changes to the 2018 Notes indenture and to release the collateral securing the 2018 Notes. We then redeemed the remaining $5 million of principal amount of the 2018 Notes on October 8, 2013, at a redemption price of 103% of the principal amount, plus accrued and unpaid interest. | |||||||||
As a result of these redemptions, we recorded a loss on extinguishment of debt of $59 million (net of $25 million write-down of unamortized premium) for the year ended December 31, 2013 as well as net gains on extinguishment of debt of $2 million and $6 million during the years ended December 31, 2012 and 2011, respectively, which were included in “Other (expense) income, net” in our Consolidated Statements of Operations. | |||||||||
ABL Credit Facility | |||||||||
In 2010, we and three of our wholly-owned subsidiaries, Resolute FP US Inc., and Abibow Recycling LLC (collectively, the “U.S. Borrowers”) and Resolute FP Canada Inc. (the “Canadian Borrower” and, together with the U.S. Borrowers, the “Borrowers”), entered into a senior secured asset-based revolving credit facility (the “ABL Credit Facility”) with a syndicate of lenders. The proceeds of the ABL Credit Facility can be used by us for, among other things, working capital, capital expenditures, permitted acquisitions and other general corporate purposes. | |||||||||
On April 29, 2013, we entered into an Incremental Commitment Agreement with respect to the credit agreement that governs the ABL Credit Facility, increasing the aggregate amount of the ABL Credit Facility from $600 million to $665 million. The ABL Credit Facility, as so increased, matures on October 28, 2016 and provides for an asset-based, revolving credit facility with an aggregate lender commitment of up to $665 million at any time outstanding, subject to borrowing base availability, including a $60 million swingline sub-facility and a $200 million letter of credit sub-facility. The ABL Credit Facility includes a $465 million tranche available to the Borrowers and a $200 million tranche available solely to the U.S. Borrowers, in each case subject to the borrowing base availability of those Borrowers. The ABL Credit Facility also provides for an uncommitted incremental loan facility of up to $135 million, subject to certain terms and conditions set forth in the ABL Credit Facility. | |||||||||
Revolving loan (and letter of credit) availability under the ABL Credit Facility is subject to borrowing base availability, which at any time is equal to, for the Borrowers, the sum of: (i) 85% of eligible accounts receivable plus (ii) the lesser of 65% of eligible inventory or 85% of the net orderly liquidation value of eligible inventory, minus certain reserves. | |||||||||
The obligations of the U.S. Borrowers under the ABL Credit Facility are guaranteed by each of the other U.S. Borrowers and certain of our material U.S. subsidiaries (the “U.S. Guarantors”), and secured by first priority liens on and security interests in substantially all of the assets of the U.S. Borrowers and the U.S. Guarantors and by first priority liens on the capital stock of the subsidiaries (limited to 65% of the capital stock in first tier foreign subsidiaries) now owned or acquired in the future by Resolute Forest Products Inc. and the U.S. Guarantors. The obligations of the Canadian Borrower under the ABL Credit Facility are guaranteed by each of the other Borrowers, the U.S. Guarantors and certain of our material Canadian subsidiaries (the “Canadian Guarantors” and, together with the U.S. Guarantors, the “Guarantors”), and are secured by first priority liens on and security interests in accounts receivable, inventory and related assets of the Canadian Borrower and the Canadian Guarantors and by first priority liens on and security interests in substantially all of the assets of the U.S. Borrowers and the U.S. Guarantors. | |||||||||
Borrowings under the ABL Credit Facility bear interest at a rate equal to, at the Borrower’s option, the base rate, the Canadian prime rate or the Eurodollar rate, in each case plus an applicable margin. The base rate under the ABL Credit Facility equals the greater of: (i) a specified base rate, (ii) the Federal Funds rate plus 0.5%, (iii) a specified rate for certificates of deposit having a term of three months plus 0.5% or (iv) the Eurodollar rate for a one month interest period plus 1.0%. The interest rate margin applicable to borrowings under the ABL Credit Facility, as amended, is 1.75% – 2.25% per annum with respect to Eurodollar rate and bankers’ acceptance rate borrowings and 0.75% – 1.25% per annum with respect to base rate and Canadian prime rate borrowings, in each case depending on historic excess availability under the ABL Credit Facility. The applicable margin is subject, in each case, to monthly pricing adjustments based on the average monthly historic excess availability under the ABL Credit Facility. | |||||||||
In addition to paying interest on the outstanding borrowings under the ABL Credit Facility, the Borrowers are required to pay a fee in respect of unutilized commitments. The unutilized commitment fee payable by the Borrowers under the ABL Credit Facility, as amended, is 0.375% – 0.50% per annum, subject to monthly pricing adjustments based on the unutilized commitment of the ABL Credit Facility. The Borrowers must also pay a fee on outstanding letters of credit under the ABL Credit Facility at a rate equal to the applicable margin in respect of Eurodollar borrowings, plus a facing fee as agreed to in writing from time to time, and certain administrative fees. | |||||||||
The Borrowers are able to voluntarily repay outstanding loans and reduce unused commitments, in each case, in whole or in part, at any time without premium or penalty. The Borrowers are required to repay outstanding loans anytime the outstanding loans exceed the maximum availability then in effect. The Borrowers are also required to use net proceeds from certain significant asset sales to repay outstanding loans, but may re-borrow following such prepayments if the conditions to borrowings are met. | |||||||||
The ABL Credit Facility contains customary covenants for asset-based credit agreements of this type, including, among other things: (i) requirements to deliver financial statements, other reports and notices; (ii) restrictions on the existence or incurrence and repayment of indebtedness; (iii) restrictions on the existence or incurrence of liens; (iv) restrictions on making certain restricted payments; (v) restrictions on making certain investments; (vi) restrictions on certain mergers, consolidations and asset dispositions; (vii) restrictions on transactions with affiliates; (viii) restrictions on amendments or modifications to the Canadian pension and benefit plans and (ix) restrictions on modifications to material indebtedness. Additionally, a minimum consolidated fixed charge coverage ratio of 1.0:1.0 is required if at any time excess availability falls below the greater of: (i) $60 million and (ii) 12.5% of the lesser of (A) the total commitments and (B) the borrowing base then in effect. Subject to customary grace periods and notice requirements, the ABL Credit Facility also contains customary events of default. | |||||||||
On February 25, 2014, the ABL Credit Facility was amended. For additional information see Note 23, “Subsequent Events.” | |||||||||
As of December 31, 2013, the Borrowers had no borrowings and $39 million of letters of credit outstanding under the ABL Credit Facility. As of December 31, 2013, we had $561 million of availability under the ABL Credit Facility, which was comprised of $345 million for the U.S. Borrowers and $216 million for the Canadian Borrower. | |||||||||
The carrying value of assets pledged as collateral for our total debt obligations was approximately $3.1 billion as of December 31, 2013. | |||||||||
Other debt | |||||||||
We assumed Fibrek’s outstanding indebtedness on the acquisition date. As of December 31, 2012, Fibrek’s term loan and credit facility, totaling $112 million of principal, were repaid in full, plus accrued and unpaid interest, and the related agreements were cancelled and terminated. | |||||||||
PSIF – Investissement Québec | |||||||||
On February 23, 2007, Investissement Québec granted Fibrek a Cdn$6 million interest-free loan through the Soutien à l’industrie forestière program (“PSIF”), payable in monthly installments over a maximum of 4 years, starting December 31, 2010. As of December 31, 2013, the fair value of the loan approximated its carrying value of $1 million. The fair value was determined by discounting the cash flows using a current interest rate (4.4%) for financial instruments with similar characteristics and maturities (Level 3). | |||||||||
Capital lease obligation | |||||||||
We have a capital lease obligation for a warehouse, which can be renewed for 20 years at our option. Minimal payments are determined by an escalatory price clause. |
Pension_and_Other_Postretireme
Pension and Other Postretirement Benefit Plans | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||
Pension and Other Postretirement Benefit Plans | ' | |||||||||||||||||||||||||||||
Note 14. Pension and Other Postretirement Benefit Plans | ||||||||||||||||||||||||||||||
We have multiple contributory and non-contributory defined benefit pension plans covering a significant portion of our U.S. and Canadian employees. We also sponsor a number of OPEB plans (e.g., defined benefit health care and life insurance plans) for retirees at certain locations. Benefits are based on years of service and, depending on the plan, average compensation earned by employees either during their last years of employment or over their careers. Our plan assets and cash contributions to the plans have been sufficient to provide pension benefits to participants and meet the funding requirements of the Employee Retirement Income Security Act of 1974 in the United States as well as applicable legislation in Canada. In particular, the cash contributions required for our material registered Canadian pension plans are specified in the funding relief regulations with regards to the solvency deficits in the affected plans, as further discussed below under “Canadian pension funding.” | ||||||||||||||||||||||||||||||
In addition to the previously described plans, we have a number of defined contribution plans covering substantially all of our U.S. employees and a significant portion of our Canadian employees. Under the U.S. defined contribution plans, employees are allowed to contribute to these plans and we make matching contributions. In addition, under the U.S. defined contribution plans, most non-union employees also receive an automatic company contribution, regardless of the employee’s contribution. The amount of the automatic company contribution is a percentage of the employee’s pay, determined based on age and years of service. The Canadian registered defined contribution plans provide for mandatory contributions by employees and by us, as well as opportunities for employees to make additional optional contributions and receive, in some cases, matching contributions on those optional amounts. Our expense for the defined contribution plans totaled $22 million in 2013, $21 million in 2012 and $22 million in 2011. | ||||||||||||||||||||||||||||||
Certain of the above plans are covered under collective bargaining agreements. | ||||||||||||||||||||||||||||||
The following tables include both our foreign (Canada and South Korea) and domestic (U.S.) plans. The assumptions used to measure the obligations of each of our foreign and domestic plans are not significantly different from each other, with the exception of the health care trend rates, which are presented below, and the mortality rates revised in 2013 for our Canadian plans to reflect the increase in life expectancy based on the findings of the Canadian Institute of Actuaries. | ||||||||||||||||||||||||||||||
The changes in our pension and OPEB obligations and plan assets for the years ended December 31, 2013 and 2012 and the funded status and reconciliation of amounts recognized in our Consolidated Balance Sheets as of December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||||||||||||
Benefit obligations as of beginning of year | $ | 6,724 | $ | 6,411 | $ | 424 | $ | 404 | ||||||||||||||||||||||
Service cost | 33 | 36 | 3 | 3 | ||||||||||||||||||||||||||
Interest cost | 274 | 312 | 16 | 20 | ||||||||||||||||||||||||||
Actuarial (gain) loss | (208 | ) | 488 | (79 | ) | 13 | ||||||||||||||||||||||||
Participant contributions | 18 | 15 | 5 | 5 | ||||||||||||||||||||||||||
Plan amendments | 18 | (30 | ) | (21 | ) | — | ||||||||||||||||||||||||
Curtailments and settlements | 1 | (51 | ) | — | — | |||||||||||||||||||||||||
Acquisition | — | 133 | — | 3 | ||||||||||||||||||||||||||
Divestiture | — | (239 | ) | — | (4 | ) | ||||||||||||||||||||||||
Benefits paid | (489 | ) | (506 | ) | (27 | ) | (25 | ) | ||||||||||||||||||||||
Effect of foreign currency exchange rate changes | (367 | ) | 155 | (11 | ) | 5 | ||||||||||||||||||||||||
Benefit obligations as of end of year | 6,004 | 6,724 | 310 | 424 | ||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||
Fair value of plan assets as of beginning of year | 5,175 | 5,259 | — | — | ||||||||||||||||||||||||||
Actual return on plan assets | 472 | 348 | — | — | ||||||||||||||||||||||||||
Employer contributions | 133 | 103 | 22 | 20 | ||||||||||||||||||||||||||
Participant contributions | 18 | 15 | 5 | 5 | ||||||||||||||||||||||||||
Settlements | (6 | ) | (62 | ) | — | — | ||||||||||||||||||||||||
Acquisition | — | 97 | — | — | ||||||||||||||||||||||||||
Divestiture | — | (209 | ) | — | — | |||||||||||||||||||||||||
Benefits paid | (489 | ) | (506 | ) | (27 | ) | (25 | ) | ||||||||||||||||||||||
Effect of foreign currency exchange rate changes | (290 | ) | 130 | — | — | |||||||||||||||||||||||||
Fair value of plan assets as of end of year | 5,013 | 5,175 | — | — | ||||||||||||||||||||||||||
Funded status as of end of year | $ | (991 | ) | $ | (1,549 | ) | $ | (310 | ) | $ | (424 | ) | ||||||||||||||||||
Amounts recognized in our Consolidated Balance Sheets consisted of: | ||||||||||||||||||||||||||||||
Other assets | $ | 17 | $ | 3 | $ | — | $ | — | ||||||||||||||||||||||
Accounts payable and accrued liabilities | (3 | ) | (4 | ) | (21 | ) | (26 | ) | ||||||||||||||||||||||
Pension and OPEB obligations | (1,005 | ) | (1,548 | ) | (289 | ) | (398 | ) | ||||||||||||||||||||||
Net obligations recognized | $ | (991 | ) | $ | (1,549 | ) | $ | (310 | ) | $ | (424 | ) | ||||||||||||||||||
The total benefit obligations and the total fair value of plan assets for pension plans with benefit obligations in excess of plan assets were $5,079 million and $4,071 million, respectively, as of December 31, 2013, and were $6,630 million and $5,078 million, respectively, as of December 31, 2012. The total accumulated benefit obligations and the total fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were $5,014 million and $4,071 million, respectively, as of December 31, 2013, and were $6,546 million and $5,078 million, respectively, as of December 31, 2012. The total accumulated benefit obligations for all pension plans were $5,931 million and $6,639 million as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||
In 2013, following the introduction of the health insurance exchange system, we approved an amendment to our U.S. OPEB plan, whereby salaried post-65 retirees will be provided Medicare coverage via a Medicare Exchange program, effective January 1, 2014. This plan amendment resulted in a prior service credit of $21 million and an actuarial gain of $36 million. Also, following the restart of our previously closed Gatineau paper mill, 119 employees were reinstated to our pension plans in 2013, which resulted in a prior service cost of $18 million. For additional information on these plan amendments, see Note 8, “Accumulated Other Comprehensive Loss.” | ||||||||||||||||||||||||||||||
In 2012, following the renewal of the 2009 collective agreements in our Canadian pulp and paper mills, we cancelled 2011 and 2013 ad hoc indexations as part of the emergence from the Creditor Protection Proceedings. This plan amendment resulted in a prior service credit of $30 million. | ||||||||||||||||||||||||||||||
These changes were recorded in “Pension and other postretirement benefit obligations” in our Consolidated Balance Sheets. The prior service (credits) cost and the actuarial gain are amortized to “Cost of sales, excluding depreciation, amortization and distribution costs” in our consolidated statements of operations, over the expected average remaining service lifetime of the respective plans. | ||||||||||||||||||||||||||||||
The components of net periodic benefit cost relating to our pension and OPEB plans for the years ended December 31, 2013, 2012 and 2011 were as follows: | ||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Service cost | $ | 33 | $ | 36 | $ | 35 | $ | 3 | $ | 3 | $ | 3 | ||||||||||||||||||
Interest cost | 274 | 312 | 335 | 16 | 20 | 22 | ||||||||||||||||||||||||
Expected return on plan assets | (308 | ) | (340 | ) | (351 | ) | — | — | — | |||||||||||||||||||||
Amortization of prior service (credits) costs | (2 | ) | — | 2 | (1 | ) | — | — | ||||||||||||||||||||||
Amortization of actuarial losses (gains) | 25 | — | — | (2 | ) | — | — | |||||||||||||||||||||||
Net periodic benefit cost before special events | 22 | 8 | 21 | 16 | 23 | 25 | ||||||||||||||||||||||||
Curtailments and settlements | 3 | 21 | 5 | — | — | 3 | ||||||||||||||||||||||||
$ | 25 | $ | 29 | $ | 26 | $ | 16 | $ | 23 | $ | 28 | |||||||||||||||||||
A detail of amounts included in “Accumulated other comprehensive loss” in our Consolidated Balance Sheets can be found in Note 8, “Accumulated Other Comprehensive Loss.” We estimate that $4 million of prior service credits, net of actuarial losses, will be amortized from accumulated other comprehensive loss into our Consolidated Statements of Operations in 2014. | ||||||||||||||||||||||||||||||
The following is a summary of the special events that impacted our net periodic benefit costs as a curtailment or settlement for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Settlements resulting from lump-sum payouts or plan liquidations and wind-ups | $ | — | $ | 10 | $ | 3 | $ | — | $ | — | $ | — | ||||||||||||||||||
Curtailments and settlements resulting from the closure of mills or paper machines and other mill restructurings | 3 | 11 | 2 | — | — | 3 | ||||||||||||||||||||||||
$ | 3 | $ | 21 | $ | 5 | $ | — | $ | — | $ | 3 | |||||||||||||||||||
On January 14, 2014, we announced an extended period of market-related outage at a paper mill in Fort Frances, which, if the mill remains idled, would result in the elimination of approximately 150 positions. In 2013, we announced a workforce reduction at our Baie-Comeau paper mill, which will result in the elimination of approximately 90 positions. The cost of these curtailments were included in “Closure costs, impairment, and other related charges” in our Consolidated Statements of Operations for the year ended December 31, 2013. | ||||||||||||||||||||||||||||||
In 2012, we recorded charges for curtailments and settlements primarily related to the indefinite idling of part of our Mersey operations (eliminating 176 positions), a workforce reduction at our Baie-Comeau paper mill (eliminating 90 positions) and the lump-sum payments for the vested terminated employees in certain of our U.S. pension plans. The cost of these curtailments and settlements was included in “Closure costs, impairment and other related charges” in our Consolidated Statements of Operations for the year ended December 31, 2012. | ||||||||||||||||||||||||||||||
In 2011, we ceased paperboard production at our Coosa Pines paper mill (eliminating 137 positions), reduced the workforce at our Mersey operations (eliminating 97 positions), permanently closed a paper machine at our Kénogami paper mill (eliminating 130 positions) and liquidated, either partially or fully, two of our pension plans. The cost of these curtailments was included in “Closure costs, impairment and other related charges” in our Consolidated Statements of Operations for the year ended December 31, 2011. | ||||||||||||||||||||||||||||||
Assumptions used to determine benefit obligations and net periodic benefit cost | ||||||||||||||||||||||||||||||
The weighted-average assumptions used to determine the benefit obligations at the measurement dates and the net periodic benefit cost for the years ended December 31, 2013, 2012 and 2011 were as follows: | ||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Benefit obligations: | ||||||||||||||||||||||||||||||
Discount rate | 4.9 | % | 4.3 | % | 4.9 | % | 5 | % | 4.2 | % | 4.9 | % | ||||||||||||||||||
Rate of compensation increase | 2.5 | % | 2.5 | % | 1.2 | % | — | — | — | |||||||||||||||||||||
Net periodic benefit cost: | ||||||||||||||||||||||||||||||
Discount rate | 4.3 | % | 4.9 | % | 5.5 | % | 4.2 | % | 4.9 | % | 5.6 | % | ||||||||||||||||||
Expected return on assets | 6.3 | % | 6.5 | % | 6.6 | % | — | — | — | |||||||||||||||||||||
Rate of compensation increase | 2.5 | % | 1.2 | % | 0.9 | % | — | — | — | |||||||||||||||||||||
The discount rate for our domestic and foreign plans was determined with a model that develops a hypothetical high-quality bond portfolio, where the bonds are theoretically purchased to settle the expected benefit payments of the plans. The discount rate reflects the single rate that produces the same discounted values as the value of the theoretical bond portfolio. In determining the expected return on assets, we considered the historical returns and the future expectations for returns for each asset class, as well as the target asset allocation of the pension portfolio. In determining the rate of compensation increase, we reviewed historical salary increases and promotions, while considering current industry conditions, the terms of collective bargaining agreements with our employees and the outlook for our industry. For the mortality rate of our domestic plans, we used recently-issued actuarially-determined mortality tables that were consistent with our historical mortality experience and future expectations for mortality of the employees who participate in our domestic pension and OPEB plans. The mortality rate for our foreign plans was established using the recently-issued actuarially-determined mortality table reflecting a longer life expectancy, combined with the result of our historical mortality experience study that were consistent with our future expectations for mortality of the employees who participate in our foreign pension and OPEB plans. | ||||||||||||||||||||||||||||||
The assumed health care cost trend rates used to determine the benefit obligations for our domestic and foreign OPEB plans as of December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
Domestic Plans | Foreign Plans | Domestic Plans | Foreign Plans | |||||||||||||||||||||||||||
Health care cost trend rate assumed for next year | 7.5 | % | 4.4 | % | 7 | % | 4.4 | % | ||||||||||||||||||||||
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) | 4.5 | % | 3.8 | % | 4.5 | % | 2.9 | % | ||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2028 | 2033 | 2028 | 2031 | ||||||||||||||||||||||||||
For the health care cost trend rates, we considered historical trends for these costs, actual experience of the plans, recently enacted health care legislation as well as future expectations. | ||||||||||||||||||||||||||||||
Variations in this health care cost trend rate can have a significant effect on the amounts reported. A 1% change in this assumption would have had the following impact on our 2013 OPEB obligation and costs for our domestic and foreign plans: | ||||||||||||||||||||||||||||||
1% Increase | 1% Decrease | |||||||||||||||||||||||||||||
(Dollars in millions) | Domestic Plans | Foreign Plans | Domestic Plans | Foreign Plans | ||||||||||||||||||||||||||
Benefit obligation | $ | 23 | 13 | % | $ | 6 | 4 | % | $ | (18 | ) | (11 | )% | $ | (5 | ) | (4 | )% | ||||||||||||
Service and interest costs | $ | 2 | 23 | % | $ | — | 6 | % | $ | (2 | ) | (18 | )% | $ | — | (5 | )% | |||||||||||||
Fair value of plan assets | ||||||||||||||||||||||||||||||
The fair value of plan assets held by our pension plans as of December 31, 2013 was as follows: | ||||||||||||||||||||||||||||||
(In millions) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||
U.S. companies | $ | 751 | $ | 751 | $ | — | $ | — | ||||||||||||||||||||||
Non-U.S. companies | 912 | 636 | 276 | — | ||||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||||||||
Corporate and government securities | 2,611 | 240 | 2,371 | — | ||||||||||||||||||||||||||
Asset-backed securities | 161 | — | 161 | — | ||||||||||||||||||||||||||
Bank loans/foreign annuities | 40 | — | — | 40 | ||||||||||||||||||||||||||
Real estate | 48 | — | — | 48 | ||||||||||||||||||||||||||
Cash and cash equivalents | 444 | 444 | — | — | ||||||||||||||||||||||||||
Accrued interest and dividends | 46 | — | 46 | — | ||||||||||||||||||||||||||
$ | 5,013 | $ | 2,071 | $ | 2,854 | $ | 88 | |||||||||||||||||||||||
The fair value of plan assets held by our pension plans as of December 31, 2012 was as follows: | ||||||||||||||||||||||||||||||
(In millions) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||
U.S. companies | $ | 642 | $ | 632 | $ | 10 | $ | — | ||||||||||||||||||||||
Non-U.S. companies | 847 | 571 | 276 | — | ||||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||||||||
Corporate and government securities | 3,019 | 242 | 2,777 | — | ||||||||||||||||||||||||||
Asset-backed securities | 139 | — | 139 | — | ||||||||||||||||||||||||||
Bank loans/foreign annuities | 41 | — | — | 41 | ||||||||||||||||||||||||||
Real estate | 51 | — | 5 | 46 | ||||||||||||||||||||||||||
Cash and cash equivalents | 398 | 398 | — | — | ||||||||||||||||||||||||||
Accrued interest and dividends | 38 | — | 38 | — | ||||||||||||||||||||||||||
$ | 5,175 | $ | 1,843 | $ | 3,245 | $ | 87 | |||||||||||||||||||||||
Equity securities include large-cap and mid-cap publicly-traded companies mainly located in the United States, Canada and other developed countries, as well as commingled equity funds invested in the same types of securities. The fair value of the equity securities is determined based on quoted market prices (Level 1) or the net asset values per share that are derived from the accumulated fair values of the equity securities within the commingled funds (Level 2). | ||||||||||||||||||||||||||||||
Debt securities include corporate bonds of U.S. and Canadian companies from diversified industries, bonds and Treasuries issued by the U.S. government and the Canadian federal and provincial governments, asset-backed securities and commingled fixed income funds invested in these same types of securities. The fair value of the debt securities is determined based on quoted market prices (Level 1), market-corroborated inputs such as matrix prices, yield curves and indices (Level 2), the net asset values per share that are derived from the accumulated fair values of the debt securities within the commingled funds (Level 2) or specialized pricing sources that utilize consensus-based contributed prices and spreads (Level 3). Bank loan investments are primarily located in the U.S. The fair value of bank loans is determined based on the mid-point of the bid and ask price points (Level 3). | ||||||||||||||||||||||||||||||
Real estate investments are located in Canada. The fair value of the real estate is determined based on an appraisal completed by a national real estate firm. Those appraisers use several valuation concepts, including the cost approach, market approach and income approach (Level 3). | ||||||||||||||||||||||||||||||
The fair value of accrued interest and dividends is determined based on market-corroborated inputs such as declared dividends and stated interest rates (Level 2). | ||||||||||||||||||||||||||||||
The changes in Level 3 pension plan assets for the years ended December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||
(In millions) | Bank Loans/Foreign | Real Estate | Total | |||||||||||||||||||||||||||
Annuities | ||||||||||||||||||||||||||||||
Balance as of December 31, 2011 | $ | 44 | $ | 39 | $ | 83 | ||||||||||||||||||||||||
Unrealized gains relating to assets held as of December 31, 2012 | — | 7 | 7 | |||||||||||||||||||||||||||
Realized gains | 1 | — | 1 | |||||||||||||||||||||||||||
Purchases | 54 | — | 54 | |||||||||||||||||||||||||||
Sales | (57 | ) | — | (57 | ) | |||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | (1 | ) | — | (1 | ) | |||||||||||||||||||||||||
Balance as of December 31, 2012 | 41 | 46 | 87 | |||||||||||||||||||||||||||
Unrealized gains relating to assets held as of December 31, 2013 | 2 | 5 | 7 | |||||||||||||||||||||||||||
Purchases | 40 | — | 40 | |||||||||||||||||||||||||||
Sales | (41 | ) | — | (41 | ) | |||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | (2 | ) | (3 | ) | (5 | ) | ||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 40 | $ | 48 | $ | 88 | ||||||||||||||||||||||||
Long-term strategy and objective | ||||||||||||||||||||||||||||||
Our investment strategy and objective is to maximize the long-term rate of return on our plan assets within an acceptable level of risk in order to meet our current and future obligations to pay benefits to qualifying employees and their beneficiaries while minimizing and stabilizing pension benefit costs and contributions. One way we accomplish this objective is to diversify our plan investments. Diversification of assets is achieved through strategic allocations to various asset classes, as well as various investment styles within these asset classes, and by retaining multiple, experienced third-party investment management firms with complementary investment styles and philosophies to implement these allocations. Risk is further managed by reviewing our investment policies at least annually and monitoring our fund managers at least quarterly for compliance with mandates and performance measures. A series of permitted and prohibited investments are listed in our respective investment policies, which are provided to our fund managers. The use of derivative financial instruments for speculative purposes and investments in the equity or debt securities of Resolute Forest Products and its affiliates are prohibited. | ||||||||||||||||||||||||||||||
We have established a target asset allocation and an allowable range from such target asset allocation for our plans based upon analysis of risk/return tradeoffs and correlations of asset mixes given long-term historical returns, prospective capital market returns, forecasted benefit payments and the forecasted timing of those payments. The targeted asset allocation of the plan assets is designed to hedge the change in the pension liabilities resulting from fluctuations in the discount rate by investing in debt and other securities, while also generating excess returns required to reduce the unfunded pension deficit by investing in equity securities with higher potential returns. The targeted asset allocation of the plan assets is 50% equity securities, with an allowable range of 30% to 60%, and 50% debt and other securities, with an allowable range of 40% to 70%, including up to 5% in short-term instruments required for near-term liquidity needs. Approximately 60% of the equity securities are targeted to be invested in the U.S. and Canada, with the balance in other developed and emerging countries. Substantially all of the debt securities are targeted to be invested in the U.S. and Canada. The asset allocation for each plan is reviewed periodically and rebalanced toward the targeted asset mix when the fair value of the investments within an asset class falls outside the predetermined range. | ||||||||||||||||||||||||||||||
Expected benefit payments and future contributions | ||||||||||||||||||||||||||||||
The following benefit payments are expected to be paid from the plans’ net assets. The OPEB plans’ benefit payments have been reduced by expected Medicare subsidy receipts associated with the Medicare Prescription Drug, Improvement and Modernization Act of 2003. | ||||||||||||||||||||||||||||||
(In millions) | Pension Plans | OPEB Plans | Expected Subsidy Receipts | |||||||||||||||||||||||||||
2014 | $ | 407 | $ | 21 | $ | 1 | ||||||||||||||||||||||||
2015 | 408 | 21 | 1 | |||||||||||||||||||||||||||
2016 | 409 | 21 | 1 | |||||||||||||||||||||||||||
2017 | 410 | 21 | 1 | |||||||||||||||||||||||||||
2018 | 409 | 20 | 1 | |||||||||||||||||||||||||||
2019- 2023 | 2,002 | 103 | 10 | |||||||||||||||||||||||||||
We estimate our 2014 contributions (excluding contributions to our defined contribution plans) to be approximately $140 million to our pension plans and approximately $20 million to our OPEB plans. | ||||||||||||||||||||||||||||||
Patient Protection and Affordable Care Act | ||||||||||||||||||||||||||||||
In March 2010, the Patient Protection and Affordable Care Act (the “PPACA”) was enacted, potentially impacting our cost to provide healthcare benefits to eligible active and retired employees. The PPACA has both short-term and long-term implications on benefit plan standards. Implementation of this legislation began in 2010 and is expected to continue in phases from 2011 through 2018. | ||||||||||||||||||||||||||||||
We have analyzed this legislation to determine: (i) the impact of the required plan standard changes on our employee healthcare plans, (ii) the effect of the excise tax on high cost healthcare plans and (iii) the resulting costs. The impact, for those changes that were currently estimable, was not material to our results of operations. In 2013, PPACA also introduced the health insurance exchange system to facilitate the purchase of state health insurance. Individuals may purchase insurance from a set of government standardized plans offering federal subsidies. In light of this new arrangement, we re-evaluated the current postretirement medical offerings and ultimately decided to shift post-Medicare coverage to the exchanges starting in 2014 for the U.S. salaried employees. For additional information, see Note 8, “Accumulated Other Comprehensive Loss.” In addition, following the five year renewal of the master collective agreement covering four unionized U.S. pulp and paper mills, effective as of February 14, 2014, we will amend our U.S. OPEB plan, whereby unionized post-65 active employees will be provided Medicare coverage via a Medicare Exchange program, effective January 1, 2015. For additional information, see Note 23, “Subsequent Events.” | ||||||||||||||||||||||||||||||
Moving Ahead for Progress in the 21st Century Act | ||||||||||||||||||||||||||||||
In July 2012, the Moving Ahead for Progress in the 21st Century Act (“MAP-21”) was signed into law, offering optional short-term funding relief for domestic pension plan sponsors. The discount-rate stabilization provision in MAP-21 limits the discount rates applicable in determining funding requirements to rates within a specified corridor of a 25-year average. The corridor was 15% and 10% in 2013 and 2012 respectively, and will widen to 20% in 2014, 25% in 2015 and 30% for the years after 2015. This enactment provides relief in the form of reduced minimum required contributions. We benefited from this funding relief and as a result, our required contributions for our domestic plans in 2013 and 2012 were reduced by $23 million and $9 million, respectively. | ||||||||||||||||||||||||||||||
Canadian pension funding | ||||||||||||||||||||||||||||||
Funding relief measures | ||||||||||||||||||||||||||||||
As a pre-condition to our emergence from the Creditor Protection Proceedings, we entered into agreements with the provinces of Québec and Ontario to establish parameters concerning the funding of the aggregate solvency deficits in our material Canadian registered pension plans, which we refer to as the “affected plans,” until 2020. These plans represented approximately 75% of our unfunded pension obligations as of December 31, 2013. In exchange for certain undertakings, the provinces confirmed their intention to adopt regulations specific to us, which we refer to as the “funding relief regulations,” to implement those parameters in respect of the affected plans. | ||||||||||||||||||||||||||||||
The funding relief regulations provide, among other things, that our aggregate annual contribution in respect of the solvency deficits in the affected plans for each year from 2011 through 2020 are limited to the following: (i) a Cdn$50 million basic contribution; (ii) beginning in 2013, if the plans’ aggregate solvency ratio falls below a specified target for a year, an additional contribution equal to 15% of free cash flow (calculated as per the funding relief regulations) up to Cdn$15 million per year and (iii) beginning in 2016, if the amount payable for benefits in a year exceeds a specified threshold and the plans’ aggregate solvency ratio is more than 2% below the target for that year, a supplementary contribution equal to such excess (such supplementary contribution being capped at Cdn$25 million on the first occurrence only of such an excess). Should a plan move into a surplus during the 2011 – 2020 period, it will cease to be subject to this funding relief. After 2020, the funding rules in place at the time will apply to any remaining deficit. | ||||||||||||||||||||||||||||||
As adopted in mid-2011, the funding relief regulations also provide that corrective measures would be required if the aggregate solvency ratio in the affected plans fell below a prescribed level under the targets specified by the regulations as of December 31 in any year through 2014. Such measures may include additional funding over five years to attain the target solvency ratio prescribed in the regulations. | ||||||||||||||||||||||||||||||
In addition, our principal Canadian operating subsidiary has undertaken in those agreements, among other things, for up to five years following the Emergence Date, to: | ||||||||||||||||||||||||||||||
• | not pay a dividend at any time when the weighted average solvency ratio of its affected plans is less than 80%; | |||||||||||||||||||||||||||||
• | abide by the compensation plan detailed in the Plans of Reorganization with respect to salaries, bonuses and severance; | |||||||||||||||||||||||||||||
• | direct at least 60% of the maintenance and value-creation investments earmarked for our Canadian pulp and paper operations to projects in Québec and at least 30% to projects in Ontario; | |||||||||||||||||||||||||||||
• | invest a minimum of Cdn$50 million over a two to three year construction period for a new condensing turbine at our Thunder Bay, Ontario facility, subject to certain conditions; | |||||||||||||||||||||||||||||
• | invest at least Cdn$75 million in strategic projects in Québec over a five-year period; | |||||||||||||||||||||||||||||
• | maintain our head office and the current related functions in Québec; | |||||||||||||||||||||||||||||
• | make an additional solvency deficit reduction contribution to its pension plans of Cdn$75, payable over four years, for each metric ton of capacity reduced in Québec or Ontario, in the event of downtime of more than six consecutive months or nine cumulative months over a period of 18 months; | |||||||||||||||||||||||||||||
• | create a diversification fund by contributing Cdn$2 million per year for five years for the benefit of the municipalities and workers in our Québec operating regions; | |||||||||||||||||||||||||||||
• | pay an aggregate of Cdn$5 million over five years to be used for such environmental remediation purposes instructed by the province of Ontario; and | |||||||||||||||||||||||||||||
• | maintain and renew certain financial assurances with the province of Ontario in respect of certain properties in the province. | |||||||||||||||||||||||||||||
Solvency deficit | ||||||||||||||||||||||||||||||
The aggregate solvency ratio calculation is based on a number of factors and assumptions, including the accrued benefits to be provided by the plans, interest rate levels, membership data and demographic experience. The assumptions used in the solvency calculation are materially different from the assumptions used to arrive at the pension and OPEB obligations for purposes of our consolidated financial statements. | ||||||||||||||||||||||||||||||
Under Canadian actuarial rules for solvency determinations, the liabilities are calculated on the assumption that the plans are terminated at the measurement date (each December 31 for the affected plans), and the liabilities are discounted primarily using a specified annuity purchase rate, which is that day’s spot interest rate on government securities in Canada plus a prescribed margin. By contrast, for purposes of our consolidated financial statements, the discount rate is determined with a model that develops a hypothetical high-quality bond portfolio, where the bonds are theoretically purchased to settle the expected benefit payments of the plans. | ||||||||||||||||||||||||||||||
As of December 31, 2013, a 1% change in discount rates would result in an approximate Cdn$520 million ($490 million, based on the exchange rate in effect on December 31, 2013) change in the solvency deficit. | ||||||||||||||||||||||||||||||
Corrective measures | ||||||||||||||||||||||||||||||
As of December 31, 2011 and 2012, the aggregate solvency ratio in the affected plans was below the minimum solvency level prescribed in the regulations. Accordingly, the regulations required that we propose corrective measures designed to attain the target solvency ratio prescribed in the regulations within five years. The difference between the solvency status as of December 31, 2011, and the target specified under the funding relief regulations represented the portion of the solvency deficit that was subject to corrective measures; it amounted to approximately Cdn$500 million as of December 31, 2011 ($471 million, based on the exchange rate in effect on December 31, 2013). The solvency deficit widened by approximately Cdn$130 million as of December 31, 2012 ($122 million, based on the exchange rate in effect on December 31, 2013), which then triggered the need for additional corrective measures in respect of that amount. | ||||||||||||||||||||||||||||||
Because of the rising interest rate environment, strong asset returns and 2013 funding, when we file the actuarial report in respect of the affected plans in the second quarter of this year, we expect that the solvency deficit as of December 31, 2013, will have decreased significantly from the level at December 31, 2012. | ||||||||||||||||||||||||||||||
In 2013, we reached an agreement in principle with Company stakeholders in Québec and in Ontario to replace the corrective measures mechanism under the funding relief regulations in favor of set incremental contributions beyond the basic funding under the existing framework. We expect that in the coming months, Québec and Ontario will adopt regulations to implement this revised framework. | ||||||||||||||||||||||||||||||
The revised framework of the funding relief provides, among other things, that our basic contribution is increased from Cdn$50 million to Cdn$80 million for each year from 2013 through 2020, and the additional contribution that began in 2013, based on the free cash flow, is eliminated. Moreover, the additional solvency deficit reduction contribution of Cdn$75 per metric ton would not apply to any capacity reduction before April 2013. | ||||||||||||||||||||||||||||||
Accordingly, we accelerated Cdn$30 million of contributions to the affected plans in 2013, representing the incremental funding under the regulations had they been adopted in 2013. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
Note 15. Income Taxes | |||||||||||||
(Loss) income before income taxes by taxing jurisdiction for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
United States | $ | (168 | ) | $ | (34 | ) | $ | 29 | |||||
Foreign | 53 | (38 | ) | 35 | |||||||||
$ | (115 | ) | $ | (72 | ) | $ | 64 | ||||||
The income tax (provision) benefit for the years ended December 31, 2013, 2012 and 2011 was comprised of the following: | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
U.S. Federal and State: | |||||||||||||
Current | $ | — | $ | (2 | ) | $ | — | ||||||
Deferred | (504 | ) | 17 | (23 | ) | ||||||||
(504 | ) | 15 | (23 | ) | |||||||||
Foreign: | |||||||||||||
Current | (1 | ) | 5 | (4 | ) | ||||||||
Deferred | (19 | ) | 19 | 8 | |||||||||
(20 | ) | 24 | 4 | ||||||||||
Total: | |||||||||||||
Current | (1 | ) | 3 | (4 | ) | ||||||||
Deferred | (523 | ) | 36 | (15 | ) | ||||||||
$ | (524 | ) | $ | 39 | $ | (19 | ) | ||||||
The income tax (provision) benefit attributable to (loss) income before income taxes differs from the amounts computed by applying the United States federal statutory income tax rate of 35% for the years ended December 31, 2013, 2012 and 2011 as a result of the following: | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
(Loss) income before income taxes | $ | (115 | ) | $ | (72 | ) | $ | 64 | |||||
Income tax (provision) benefit: | |||||||||||||
Expected income tax benefit (provision) | 40 | 25 | (22 | ) | |||||||||
Changes resulting from: | |||||||||||||
Valuation allowance (1) | (572 | ) | (24 | ) | (15 | ) | |||||||
Reorganization-related and other tax adjustments (2) | — | 13 | (38 | ) | |||||||||
Adjustment for unrecognized tax benefits (3) | 2 | 5 | 63 | ||||||||||
Foreign exchange | (4 | ) | 10 | (9 | ) | ||||||||
Research and development tax incentives | 2 | 8 | — | ||||||||||
State income taxes, net of federal income tax benefit | 3 | 1 | (1 | ) | |||||||||
Foreign tax rate differences | 4 | 1 | 2 | ||||||||||
Other, net | 1 | — | 1 | ||||||||||
$ | (524 | ) | $ | 39 | $ | (19 | ) | ||||||
(1) | During 2013, we recorded a net increase in the valuation allowance of $572 million, mostly due to a charge of $604 million to establish a full valuation allowance against our net U.S. deferred income tax assets, partly offset by the reversal of $36 million of valuation allowance related to available U.S. capital losses, which are now expected to be utilized in the future as a result of the acquisition of the noncontrolling interest in CNC. See “Deferred income taxes” section below for a further discussion of the valuation allowance. | ||||||||||||
During 2012, the increase in the valuation allowance primarily related to costs associated with the indefinite idling of our Mersey operations prior to the sale, where we did not recognize tax benefits, as well as an increase in the valuation allowance for certain benefits in Canada and the U.S. that were expected to expire unused. Partially offsetting these increases was a release of valuation allowance related to the U.S. Fibrek operations, following an internal reorganization where the U.S. Fibrek group joined our U.S. consolidated group. | |||||||||||||
During 2011, the increase in the valuation allowance related to certain U.S. State ordinary loss carryforwards, as well as tax benefits for our Mersey operations and our Mokpo paper mill where we did not recognize deferred income tax assets. | |||||||||||||
(2) | During 2012 and 2011, we recorded reorganization-related and other tax adjustments, which represented adjustments to our previously-reported tax balance sheet accounts. We did not adjust any prior period reported amounts, as we did not believe that these adjustments were material to our previously-issued financial statements. | ||||||||||||
(3) | During 2013, 2012 and 2011, we recorded benefits for previously unrecognized tax benefits related to uncertain tax positions pursuant to FASB ASC 740, “Income Taxes,” as effectively settled upon completion of certain tax authority examinations. | ||||||||||||
Deferred income taxes | |||||||||||||
At each reporting period, we assess whether it is more likely than not that the deferred income tax assets will be realized, based on the review of all available positive and negative evidence, including future reversals of existing taxable temporary differences, estimates of future taxable income, past operating results and prudent and feasible tax planning strategies. The carrying value of our deferred income tax assets reflects our expected ability to generate sufficient future taxable income in certain tax jurisdictions to utilize these deferred income tax benefits. | |||||||||||||
Following the assessment of the realizability of our U.S. operations deferred income tax assets, we concluded that existing negative evidence outweighed positive evidence and that a full valuation allowance against our net deferred income tax assets was required. A cumulative loss position is considered significant negative evidence in assessing the realizability of deferred income tax assets that is difficult to overcome. As a result of our mill rationalization efforts, executed to improve our cost structure and asset base going forward, as well as changing dynamics in the pulp and paper industry, our U.S. operations were in a three year cumulative loss position for the year ended December 31, 2013. Considering that the weight given to positive and negative evidence must be commensurate with the extent to which that evidence may be objectively verified, the recent cumulative loss of our U.S. operations limits our ability to consider other subjective positive evidence, such as projections of future earnings. As a result, we recorded an increase to the income tax provision of $604 million in order to establish a full valuation allowance against our net U.S. deferred income tax assets. The non-cash charge to establish a valuation allowance does not have any impact on our consolidated operating income or cash flow. It also does not reduce our underlying tax attributes, nor hinders our ability to use them in the future | |||||||||||||
The weight of positive evidence, which included a review of historical cumulative earnings and our expected future performance, resulted in the conclusion by management that valuation allowances were not required for most of our deferred income tax assets in Canada, as they were determined to be more likely than not to be realized. We maintained a valuation allowance against certain items of a capital nature and on the net deferred income tax assets associated with Fibrek Holding Inc., a Canadian wholly-owned subsidiary. | |||||||||||||
Deferred income taxes as of December 31, 2013 and 2012 were comprised of the following: | |||||||||||||
(In millions) | 2013 | 2012 | |||||||||||
Fixed assets | $ | (236 | ) | $ | (262 | ) | |||||||
Deferred gains | (41 | ) | (40 | ) | |||||||||
Other liabilities | (54 | ) | (120 | ) | |||||||||
Deferred income tax liabilities | (331 | ) | (422 | ) | |||||||||
Fixed assets | 575 | 593 | |||||||||||
Pension and OPEB plans | 389 | 587 | |||||||||||
Ordinary loss carryforwards | 843 | 816 | |||||||||||
Capital loss carryforwards | 444 | 444 | |||||||||||
Research and development expense pool | 223 | 254 | |||||||||||
Tax credit carryforwards | 119 | 159 | |||||||||||
Other assets | 99 | 173 | |||||||||||
Deferred income tax assets | 2,692 | 3,026 | |||||||||||
Valuation allowance | (1,121 | ) | (623 | ) | |||||||||
Net deferred income tax assets | $ | 1,240 | $ | 1,981 | |||||||||
Amounts recognized in our Consolidated Balance Sheets consisted of: | |||||||||||||
Deferred income tax assets – current | $ | 32 | $ | 56 | |||||||||
Deferred income tax assets – noncurrent | 1,266 | 2,000 | |||||||||||
Deferred income tax liabilities - current | (32 | ) | — | ||||||||||
Deferred income tax liabilities – noncurrent | (26 | ) | (75 | ) | |||||||||
Net deferred income tax assets | $ | 1,240 | $ | 1,981 | |||||||||
The balance of tax attributes and their dates of expiration as of December 31, 2013 were as follows: | |||||||||||||
(In millions) | Related | Year of | |||||||||||
Deferred | Expiration | ||||||||||||
Income Tax | |||||||||||||
Asset | |||||||||||||
Ordinary loss carryforwards: | |||||||||||||
U.S. Federal ordinary loss carryforwards of $1,779 | $ | 623 | (1 | ) | 2021 – 2033 | ||||||||
U.S. State ordinary loss carryforwards of $1,718 | 67 | (1 | ) | 2014 – 2033 | |||||||||
Canadian Federal and provincial (excluding Québec) ordinary loss carryforwards of $436 | 72 | 2014 – 2033 | |||||||||||
Québec ordinary loss carryforwards of $639 | 61 | 2014 – 2033 | |||||||||||
Other ordinary loss carryforwards | 20 | 2019 – 2023 | |||||||||||
$ | 843 | ||||||||||||
Capital loss carryforwards: | |||||||||||||
U.S. capital loss carryforwards of $1,258 | $ | 440 | (1 | ) | 2014 | ||||||||
Canadian capital loss carryforwards of $12 | 4 | Indefinite | |||||||||||
$ | 444 | ||||||||||||
Research and development expense pool: | |||||||||||||
Canadian Federal and provincial (excluding Québec) research and development expense pool of $788 | $ | 142 | Indefinite | ||||||||||
Québec research and development expense pool of $969 | 81 | Indefinite | |||||||||||
$ | 223 | ||||||||||||
Tax credit carryforwards: | |||||||||||||
Canadian research and development tax credit carryforwards | $ | 112 | 2016 – 2033 | ||||||||||
Other Canadian tax credit carryforwards | 1 | 2014 | |||||||||||
U.S State tax credit carryforwards | 6 | (1 | ) | 2014 – 2028 | |||||||||
$ | 119 | ||||||||||||
(1) | As at December 31, 2013, a full valuation allowance was recorded on our U.S operations net deferred income tax assets. | ||||||||||||
Our U.S federal net operating loss carryforwards are subject to the U.S. Internal Revenue Code of 1986, as amended § 382 (“IRC § 382”) limitation, resulting from a previous ownership change. We do not expect that IRC § 382 would limit the utilization of our available U.S federal net operating loss carryforwards prior to their expiration. | |||||||||||||
We consider our foreign earnings to be permanently invested. Accordingly, we do not currently provide for the additional United States and foreign income taxes that would become payable upon remission of undistributed earnings of foreign subsidiaries. The cumulative undistributed earnings of such subsidiaries as of December 31, 2013 are not material. It is not practicable to estimate the income tax liability that might be incurred if such earnings were remitted to the U.S. | |||||||||||||
Unrecognized tax benefits | |||||||||||||
The following table summarizes the activity related to our gross unrecognized tax benefits for the years ended December 31, 2013 and 2012: | |||||||||||||
(In millions) | 2013 | 2012 | |||||||||||
Beginning of year | $ | 84 | $ | 109 | |||||||||
(Decrease) increase in unrecognized tax benefits resulting from: | |||||||||||||
Positions taken in a prior period | (1 | ) | (16 | ) | |||||||||
Positions taken in the current period | 4 | 44 | |||||||||||
Settlements with taxing authorities | — | (55 | ) | ||||||||||
Change in Canadian foreign exchange rate | (6 | ) | 2 | ||||||||||
End of year | $ | 81 | $ | 84 | |||||||||
We recognize interest and penalties accrued on unrecognized tax benefits as components of the income tax provision. The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate is $78 million. During 2013, changes to unrecognized tax benefits reflected additional uncertain tax positions taken, as well as the impact of changes in foreign exchanges rates. In 2012, we adjusted certain reserves for unrecognized tax benefits following the completion of examinations and settlements reached with various taxing authorities, as well as additional uncertain tax positions taken. | |||||||||||||
In the normal course of business, we are subject to audits from the federal, state, provincial and other tax authorities regarding various tax liabilities. U.S. federal tax returns for 2010 and future years, as well as Canadian tax returns for 2008 and future years remain subject to examination by tax authorities. | |||||||||||||
We do not expect a significant change to the amount of unrecognized tax benefits over the next twelve months. However, any adjustments arising from examinations by taxing authorities may alter the timing or amount of taxable income or deductions, or the allocation of income among tax jurisdictions, and could differ from the amount accrued. We believe that taxes accrued in our Consolidated Balance Sheets fairly represent the amount of income taxes to be settled or realized in the future. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Note 16. Commitments and Contingencies | |
Legal items | |
We are involved in various legal proceedings relating to contracts, commercial disputes, taxes, environmental issues, employment and workers’ compensation claims, Aboriginal claims and other matters. We periodically review the status of these proceedings with both inside and outside counsel. Although the final outcome of any of these matters is subject to many variables and cannot be predicted with any degree of certainty, we establish reserves for a matter (including legal costs expected to be incurred) when we believe an adverse outcome is probable and the amount can be reasonably estimated. We believe that the ultimate disposition of these matters will not have a material adverse effect on our financial condition, but it could have a material adverse effect on our results of operations in any given quarter or year. | |
Effective July 31, 2012, we completed the second step transaction pursuant to which we acquired the remaining 25.4% of the outstanding Fibrek shares, following the approval of Fibrek’s shareholders on July 23, 2012, and the issuance of a final order of the Québec Superior Court in Canada (the “Canadian Court”) approving the arrangement on July 27, 2012. Certain former shareholders of Fibrek exercised (or purported to exercise) rights of dissent in respect of the transaction, asking for a judicial determination of the fair value of their claim under the Canada Business Corporations Act. No consideration has to date been paid to the former Fibrek shareholders who exercised (or purported to exercise) rights of dissent. Any such consideration will only be paid out upon settlement or judicial determination of the fair value of their claims and will be paid entirely in cash. Accordingly, we cannot presently determine the amount that ultimately will be paid to former holders of Fibrek shares in connection with the proceedings, but we have reserved approximately Cdn$14 million ($13 million, based on the exchange rate in effect on December 31, 2013) for the eventual payment of those claims. | |
On June 12, 2012, we filed a motion for directives with the Canadian Court seeking an order to prevent pension regulators in each of Québec, New Brunswick and Newfoundland and Labrador from declaring partial wind-ups of pension plans relating to employees of former operations in New Brunswick and Newfoundland and Labrador, or a declaration that any claim for accelerated reimbursements of deficits arising from a partial wind-up is a barred claim under the Creditor Protection Proceedings. These plans are subject to the funding relief regulations described in Note 14, “Pension and Other Postretirement Benefit Plans - Canadian pension funding,” and we contend, among other things, that any such declaration, if issued, would be inconsistent with the Canadian Court’s sanction order confirming the Plan of Reorganization and the terms of our emergence from the Creditor Protection Proceedings. A partial wind-up would likely shorten the period in which any deficit within those plans, which could reach up to Cdn$150 million ($141 million based on the exchange rate in effect on December 31, 2013), would have to be funded if we do not obtain the relief sought. No hearing date has been set to date. | |
Environmental matters | |
We are subject to a variety of federal, state, provincial and local environmental laws and regulations in the jurisdictions in which we operate. We believe our operations are in material compliance with current applicable environmental laws and regulations. Environmental regulations promulgated in the future could require substantial additional expenditures for compliance and could have a material impact on us, in particular, and the industry in general. We may be a “potentially responsible party” with respect to four hazardous waste sites that are being addressed pursuant to the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (“Superfund”) or the Resource Conservation and Recovery Act (“RCRA”) corrective action authority. We believe we will not be liable for any significant amounts at any of these sites. | |
We have recorded $9 million and $4 million for environmental liabilities as of December 31, 2013 and 2012, respectively, which represents management’s estimate based on an assessment of relevant factors and assumptions of the ultimate settlement amounts for environmental liabilities. The amount of these liabilities could be affected by changes in facts or assumptions not currently known to management. These liabilities are included in “Accounts payable and accrued liabilities” or “Other long-term liabilities” in our Consolidated Balance Sheets. | |
Other representations, warranties and indemnifications | |
We make representations and warranties and offer indemnities to counterparties in connection with commercial transactions like asset sales and other commercial agreements. Indemnification obligations generally are standard contractual terms, are entered into in the normal course of business and are related to contingencies that are not expected to occur at the time of the agreement. We are not able to develop an estimate of the maximum payout under these indemnification obligations, but we believe that it is unlikely that we will be required to make material payments under those arrangements and no material liabilities related thereto have been recognized in our consolidated financial statements. |
Share_Capital
Share Capital | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Share Capital | ' |
Note 17. Share Capital | |
Overview | |
We are authorized under our certificate of incorporation, as amended and restated, to issue up to 200 million shares of capital stock, consisting of: (i) 190 million shares of common stock, par value $0.001 per share and (ii) 10 million shares of preferred stock, par value $0.001 per share. | |
Preferred stock | |
As of December 31, 2013 and 2012, no preferred shares were issued and outstanding. | |
Common stock | |
On the Emergence Date and pursuant to the Plans of Reorganization, we issued an aggregate of 97,134,954 shares of common stock for the benefit of unsecured creditors of the Debtors in the Creditor Protection Proceedings and also reserved 9,020,960 shares for issuance under the predecessor to the Resolute Forest Products Equity Incentive Plan (as amended, the “Incentive Plan”). | |
As of December 31, 2011, 77,415,389 shares of common stock had been distributed to the holders of unsecured claims as of the applicable distribution record date under the Plans of Reorganization on account of allowed unsecured creditor claims. During the years ended December 31, 2013 and 2012, an additional 3,693,601 and 15,702,418 shares, respectively, of common stock had been distributed to the holders of unsecured claims from the share reserve established on the Emergence Date for disputed claims, leaving no remaining unresolved claim. | |
Because the aggregate of allowed claims against certain Chapter 11 debtors was resolved for less than was originally reserved when the disputed claim share reserve was established, and because certain of the CCAA debtors had no creditor, the remaining 276,662 shares and 46,884 shares, respectively, unallocated under the respective plan of reorganization were transferred to us in 2013 and accounted as treasury stock. | |
Consistent with the confirmation order in respect of our U.S. Debtors’ Chapter 11 Reorganization Plan and applicable law, we relied on section 1145(a)(1) of Chapter 11 to exempt the issuance of these shares of common stock and their distribution to unsecured creditors from the registration requirements of the Securities Act of 1933 (as amended, the “Securities Act”). | |
Treasury stock | |
On May 22, 2012, our board of directors approved a share repurchase program of up to 10% of our common stock, for an aggregate purchase price of up to $100 million. During the year ended December 31, 2012, we repurchased 5,610,152 shares at a cost of $67 million. We did not repurchase shares in 2013. | |
On July 31, 2012, we distributed 503,054 shares from treasury as part of the consideration in the second step transaction to acquire the remaining non-controlling interest in Fibrek. For additional information, see Note 3, “Acquisition of Fibrek Inc.” | |
In 2013, we also transferred 323,546 shares of common stock from the disputed share reserve, as described above. | |
Dividends | |
We did not declare or pay any dividends on our common stock during the years ended December 31, 2013, 2012 and 2011. |
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Share-Based Compensation | ' | |||||||||||||
Note 18. Share-Based Compensation | ||||||||||||||
Overview | ||||||||||||||
The Incentive Plan, which became effective on the Emergence Date and is administered by the human resources and compensation/nominating and governance committee of the board of directors, provides for the grant of equity-based awards, including stock options, stock appreciation rights, restricted stock, RSUs, DSUs (collectively, “stock incentive awards”) and cash incentive awards to certain of our officers, directors, employees, consultants and advisors. As discussed in Note 17, “Share Capital,” we have been authorized to issue stock incentive awards for up to 9 million shares under the Incentive Plan. | ||||||||||||||
In 2011, the board of directors adopted the Resolute Forest Products Outside Director Deferred Compensation Plan (the “Deferred Compensation Plan”), which allows non-employee directors to surrender 50% or 100% of their cash fees in exchange for DSUs or RSUs, as applicable based on the director’s country of residency. The number of awards issued pursuant to the Deferred Compensation Plan is based on 110% of the fees earned, resulting in a 10% premium incentive. | ||||||||||||||
As of December 31, 2013 and 2012, all of our outstanding stock incentive awards pursuant to the Incentive Plan were accounted for as equity-classified, service-based awards and all of our outstanding stock incentive awards pursuant to the Deferred Compensation Plan were accounted for as liability awards. As of December 31, 2013, approximately 5.7 million shares were available for issuance under the Incentive Plan. | ||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, share-based compensation expense was $8 million (no tax benefit), $5 million ($1 million of tax benefit) and $3 million ($1 million of tax benefit), respectively. | ||||||||||||||
Retirement eligibility period | ||||||||||||||
Employees who retire (upon meeting certain age and service criteria) at least 6 months after the grant date and prior to the end of the four-year vesting period will be allowed to continue vesting in their awards after retirement in accordance with the normal vesting schedule. The requisite service periods for the stock incentive awards are reduced on an individual basis, as necessary, to reflect the grantee’s individual retirement eligibility date (“the retirement eligibility period”). | ||||||||||||||
Stock options | ||||||||||||||
In 2013 and 2012, we made grants of 692,759 and 785,885 stock options, respectively, to our non-employee directors and to certain employees using the following weighted-average assumptions: | ||||||||||||||
2013 | 2012 | |||||||||||||
Exercise price | $ | 15.66 | $ | 11.41 | ||||||||||
Fair value | $ | 7.65 | $ | 5.59 | ||||||||||
Expected dividend yield | — | — | ||||||||||||
Expected volatility | 50 | % | 50.6 | % | ||||||||||
Risk-free interest rate | 1.8 | % | 1.6 | % | ||||||||||
Expected life in years | 6.25 | 6.25 | ||||||||||||
The stock options become exercisable ratably over a period of 4 years, or the retirement eligibility period, whichever is shorter, and, unless terminated earlier in accordance with their terms, expire 10 years from the date of grant. New shares of our common stock are issued upon the exercise of a stock option. In certain cases, we withhold shares in respect of option costs and applicable taxes. | ||||||||||||||
We calculated the grant-date fair value of the stock options using the Black-Scholes option pricing model. The payment of dividends is subject to certain restrictions under the 2023 Notes indenture and the credit agreement that governs the ABL Credit Facility; therefore, we assumed an expected dividend yield of zero. Due to the short trading history of the Company’s common stock, we estimated the expected volatility based on the historical volatility of a peer group within our industry measured over a term approximating the expected life of the options. We estimated the risk-free interest rate based on a zero-coupon U.S. Treasury instrument with a remaining term approximating the expected life of the options. Historical exercise data attributable to stock incentive awards granted after the Company’s common stock began publicly trading is limited; therefore, we used the simplified method permitted by Staff Accounting Bulletin Topic 14 to estimate the expected life of the options. Under this approach, the expected life is presumed to be the midpoint between the vesting date and the end of the contractual term. | ||||||||||||||
The activity of stock options for the year ended December 31, 2013 was as follows: | ||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | |||||||||||
Shares | Average | Average | Intrinsic | |||||||||||
Exercise | Contractual | Value | ||||||||||||
Price | Life (years) | |||||||||||||
Outstanding as of December 31, 2012 | 1,530,618 | $ | 15.46 | 9.2 | $ | — | ||||||||
Granted | 692,759 | 15.66 | ||||||||||||
Exercised | (13,301 | ) | 11.41 | |||||||||||
Forfeited | (180,773 | ) | 15.4 | |||||||||||
Outstanding as of December 31, 2013 | 2,029,303 | $ | 15.56 | 8.7 | $ | — | ||||||||
Exercisable as of December 31, 2013 | 585,928 | $ | 17.74 | 7.8 | $ | — | ||||||||
As of December 31, 2013, there was approximately $7 million of unrecognized compensation cost related to these stock options, which is expected to be recognized over a remaining requisite service period of 3.2 years. | ||||||||||||||
Restricted stock units and deferred stock units | ||||||||||||||
In 2013 and 2012, we made grants of RSUs and DSUs to our non-employee directors and to certain employees pursuant to the Incentive Plan. Each RSU and DSU provides the holder the right to receive one share of our common stock upon vesting. The awards vest ratably over a period of one year for directors and four years for employees, or over the retirement eligibility period, whichever is shorter. Awards to employees are settled with shares of stock upon vesting, while awards to directors are settled with shares of stock ratably over a period of three years or upon separation from the Board of Directors, as applicable based on the director’s country of residency. In certain cases, we withhold shares in respect of applicable taxes. | ||||||||||||||
The activity of RSUs and DSUs for the year ended December 31, 2013 was as follows: | ||||||||||||||
Number of | Weighted- | |||||||||||||
Units | Average Fair | |||||||||||||
Value at Grant | ||||||||||||||
Date | ||||||||||||||
Outstanding as of December 31, 2012 | 777,548 | $ | 13.5 | |||||||||||
Granted (1) | 504,329 | 16.15 | ||||||||||||
Vested and settled (2) | (226,305 | ) | 12.63 | |||||||||||
Forfeited | (95,121 | ) | 13.18 | |||||||||||
Outstanding as of December 31, 2013 (3) | 960,451 | $ | 15.13 | |||||||||||
(1) | Includes 32,804 DSUs to non-employee directors pursuant to the Deferred Compensation Plan. | |||||||||||||
(2) | Includes 8,149 and 3,613 awards that were vested in 2012 and 2011, respectively, but were not settled until 2013. | |||||||||||||
(3) | Includes 38,424 awards that were vested in 2013 but have not been settled and therefore remain outstanding as of December 31, 2013. | |||||||||||||
As of December 31, 2013, there was approximately $9 million of unrecognized compensation cost related to these RSUs and DSUs, which is expected to be recognized over a remaining requisite service period of 3.2 years. New shares of our common stock are issued upon the settlement of an RSU or DSU issued pursuant to the Incentive Plan. | ||||||||||||||
The weighted-average grant-date fair value of all RSUs and DSUs granted in 2012 was $11.66. |
Timberland_and_Operating_Lease
Timberland and Operating Leases and Purchase Obligations | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Timberland, Operating Leases, Purchase Obligations Disclosures [Text Block] | ' | ||||||||
Note 19. Operating Leases and Purchase Obligations | |||||||||
We lease office premises, office equipment and transportation equipment under operating leases for which total expense was $12 million in 2013, $13 million in 2012 and $13 million in 2011. In the normal course of business, we have also entered into various supply agreements, guarantees, purchase commitments and harvesting rights agreements (for land that we manage for which we make payments to various Canadian provinces based on the amount of timber harvested). | |||||||||
As of December 31, 2013, the future minimum rental payments under operating leases and commitments for purchase obligations were as follows: | |||||||||
(In millions) | Purchase Obligations | Operating | |||||||
Leases | |||||||||
2014 | $ | 77 | $ | 4 | |||||
2015 | 44 | 3 | |||||||
2016 | 42 | 3 | |||||||
2017 | 35 | 2 | |||||||
2018 | 16 | 2 | |||||||
Thereafter | 49 | 9 | |||||||
$ | 263 | $ | 23 | ||||||
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||||
Note 20. Segment Information | |||||||||||||||||||||||||
We manage our business based on the products we manufacture. Our reportable segments correspond to our principal product lines: newsprint, specialty papers, market pulp and wood products. As of the fourth quarter of 2013, the results from our coated papers operations have been integrated with the specialty papers segment. This better reflects management's internal analysis, given the increasingly high degree of substitution with supercalender grades, and the diminishing percentage coated papers represents in our product portfolio. Comparative year information, including the table presented below, has been modified to conform to this revised segment presentation. | |||||||||||||||||||||||||
None of the income or loss items following “Operating (loss) income” in our Consolidated Statements of Operations are allocated to our segments, since those items are reviewed separately by management. For the same reason, closure costs, impairment and other related charges, severance costs, inventory write-downs related to closures, start up costs of idled mills, net gain on disposition of assets, transaction costs, as well as other discretionary charges or credits are not allocated to our segments. We allocate depreciation and amortization expense to our segments, although the related fixed assets and amortizable intangible assets are not allocated to segment assets. Additionally, all selling, general and administrative expenses, excluding severance costs and certain discretionary charges and credits, are allocated to our segments. | |||||||||||||||||||||||||
In each of 2013, 2012 and 2011, no assets were identifiable by segment and reviewed by management. All assets were therefore included in Corporate and other. | |||||||||||||||||||||||||
Information about certain segment data for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||||||||||||||||||||
(In millions) | Newsprint | Specialty | Market | Wood | Corporate | Consolidated | |||||||||||||||||||
Papers | Pulp (1) | Products | and Other | Total | |||||||||||||||||||||
Sales | |||||||||||||||||||||||||
2013 | $ | 1,473 | $ | 1,366 | $ | 1,053 | $ | 569 | $ | — | $ | 4,461 | |||||||||||||
2012 | 1,627 | 1,562 | 814 | 500 | — | 4,503 | |||||||||||||||||||
2011 | 1,816 | 1,813 | 659 | 468 | — | 4,756 | |||||||||||||||||||
Depreciation and amortization | |||||||||||||||||||||||||
2013 | $ | 73 | $ | 77 | $ | 52 | $ | 36 | $ | 5 | $ | 243 | |||||||||||||
2012 | 72 | 83 | 44 | 34 | — | 233 | |||||||||||||||||||
2011 | 73 | 84 | 30 | 33 | — | 220 | |||||||||||||||||||
Operating income (loss) (2) | |||||||||||||||||||||||||
2013 | $ | 40 | $ | 35 | $ | 42 | $ | 41 | $ | (160 | ) | $ | (2 | ) | |||||||||||
2012 | 97 | 85 | (43 | ) | 26 | (193 | ) | (28 | ) | ||||||||||||||||
2011 | 89 | 122 | 91 | (25 | ) | (70 | ) | 207 | |||||||||||||||||
Capital expenditures | |||||||||||||||||||||||||
2013 | $ | 57 | $ | 17 | $ | 40 | $ | 31 | $ | 16 | $ | 161 | |||||||||||||
2012 | 58 | 22 | 40 | 22 | 27 | 169 | |||||||||||||||||||
2011 | 34 | 19 | 12 | 20 | 12 | 97 | |||||||||||||||||||
(1) | For the years ended December 31, 2013, 2012 and 2011, market pulp sales excluded inter-segment sales of $17 million, $36 million and $33 million, respectively. | ||||||||||||||||||||||||
(2)Corporate and other operating loss for the years ended December 31, 2013, 2012 and 2011 included the following significant items: | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Net gain on disposition of assets | $ | 2 | $ | 35 | $ | 3 | |||||||||||||||||||
Closure costs, impairment and other related charges | (89 | ) | (185 | ) | (46 | ) | |||||||||||||||||||
Inventory write-downs related to closures | (11 | ) | (12 | ) | (3 | ) | |||||||||||||||||||
Severance costs | — | (5 | ) | (12 | ) | ||||||||||||||||||||
Transaction costs | (6 | ) | (8 | ) | (5 | ) | |||||||||||||||||||
Start up costs of idled mills | (32 | ) | (13 | ) | — | ||||||||||||||||||||
$ | (136 | ) | $ | (188 | ) | $ | (63 | ) | |||||||||||||||||
Sales are attributed to countries based on the location of the customer. No single customer, related or otherwise, accounted for 10% or more of our 2013, 2012 or 2011 consolidated sales. No country in the “Other countries” group in the table below exceeded 2% of consolidated sales. Sales by country for the years ended December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
United States | $ | 2,834 | $ | 2,766 | $ | 2,859 | |||||||||||||||||||
Foreign countries: | |||||||||||||||||||||||||
Canada | 546 | 636 | 636 | ||||||||||||||||||||||
Mexico | 168 | 140 | 151 | ||||||||||||||||||||||
Brazil | 122 | 154 | 166 | ||||||||||||||||||||||
Italy | 85 | 105 | 106 | ||||||||||||||||||||||
India | 74 | 36 | 60 | ||||||||||||||||||||||
Korea | 65 | 84 | 88 | ||||||||||||||||||||||
Other countries | 567 | 582 | 690 | ||||||||||||||||||||||
1,627 | 1,737 | 1,897 | |||||||||||||||||||||||
$ | 4,461 | $ | 4,503 | $ | 4,756 | ||||||||||||||||||||
Long-lived assets, which exclude intangible assets and deferred income tax assets, by country, as of December 31, 2013 and 2012, were as follows: | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||||||
United States | $ | 967 | $ | 1,071 | |||||||||||||||||||||
Foreign countries: | |||||||||||||||||||||||||
Canada | 1,498 | 1,538 | |||||||||||||||||||||||
Korea | 26 | 25 | |||||||||||||||||||||||
1,524 | 1,563 | ||||||||||||||||||||||||
$ | 2,491 | $ | 2,634 | ||||||||||||||||||||||
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Condensed Consolidating Financial Information | ' | ||||||||||||||||||||
Note 21. Condensed Consolidating Financial Information | |||||||||||||||||||||
The following information is presented in accordance with Rule 3-10 of Regulation S-X and the public information requirements of Rule 144 promulgated pursuant to the Securities Act in connection with Resolute Forest Products Inc.’s 2023 Notes that are fully and unconditionally guaranteed, on a joint and several basis, by all of our 100% owned material U.S. subsidiaries (the “Guarantor Subsidiaries”). The 2023 Notes are not guaranteed by our foreign subsidiaries and our less than 100% owned U.S. subsidiaries (the “Non-guarantor Subsidiaries”). | |||||||||||||||||||||
The following condensed consolidating financial information sets forth the Statements of Operations and Comprehensive Loss for the years ended December 31, 2013, 2012 and 2011, the Balance Sheets as of December 31, 2013 and 2012 and the Statements of Cash Flows for the years ended December 31, 2013, 2012 and 2011 for Resolute Forest Products Inc. (the “Parent”), the Guarantor Subsidiaries on a combined basis and the Non-guarantor Subsidiaries on a combined basis. The condensed consolidating financial information reflects the investments of the Parent in the Guarantor Subsidiaries and Non-guarantor Subsidiaries, as well as the investments of the Guarantor Subsidiaries in the Non-guarantor Subsidiaries, using the equity method of accounting. The principal consolidating adjustments are elimination entries to eliminate the investments in subsidiaries and intercompany balances and transactions. | |||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME | |||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Sales | $ | — | $ | 3,674 | $ | 2,956 | $ | (2,169 | ) | $ | 4,461 | ||||||||||
Costs and expenses: | |||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | — | 3,356 | 2,247 | (2,157 | ) | 3,446 | |||||||||||||||
Depreciation and amortization | — | 100 | 143 | — | 243 | ||||||||||||||||
Distribution costs | — | 172 | 357 | (8 | ) | 521 | |||||||||||||||
Selling, general and administrative expenses | 18 | 47 | 101 | — | 166 | ||||||||||||||||
Closure costs, impairment and other related charges | — | 61 | 28 | — | 89 | ||||||||||||||||
Net gain on disposition of assets | — | — | (2 | ) | — | (2 | ) | ||||||||||||||
Operating (loss) income | (18 | ) | (62 | ) | 82 | (4 | ) | (2 | ) | ||||||||||||
Interest expense | (89 | ) | (4 | ) | (8 | ) | 50 | (51 | ) | ||||||||||||
Other (expense) income, net | (60 | ) | 66 | (18 | ) | (50 | ) | (62 | ) | ||||||||||||
Parent’s equity in loss of subsidiaries | (472 | ) | — | — | 472 | — | |||||||||||||||
(Loss) income before income taxes | (639 | ) | — | 56 | 468 | (115 | ) | ||||||||||||||
Income tax provision | — | (564 | ) | (21 | ) | 61 | (524 | ) | |||||||||||||
Net (loss) income including noncontrolling interests | (639 | ) | (564 | ) | 35 | 529 | (639 | ) | |||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | ||||||||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | $ | (639 | ) | $ | (564 | ) | $ | 35 | $ | 529 | $ | (639 | ) | ||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | $ | (296 | ) | $ | (346 | ) | $ | 217 | $ | 129 | $ | (296 | ) | ||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME | |||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Sales | $ | — | $ | 3,139 | $ | 2,894 | $ | (1,530 | ) | $ | 4,503 | ||||||||||
Costs and expenses: | |||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | — | 2,774 | 2,228 | (1,517 | ) | 3,485 | |||||||||||||||
Depreciation and amortization | — | 93 | 140 | — | 233 | ||||||||||||||||
Distribution costs | — | 162 | 361 | (9 | ) | 514 | |||||||||||||||
Selling, general and administrative expenses | 18 | 56 | 75 | — | 149 | ||||||||||||||||
Closure costs, impairment and other related charges | — | 12 | 173 | — | 185 | ||||||||||||||||
Net gain on disposition of assets | — | — | (35 | ) | — | (35 | ) | ||||||||||||||
Operating (loss) income | (18 | ) | 42 | (48 | ) | (4 | ) | (28 | ) | ||||||||||||
Interest expense | (214 | ) | (13 | ) | (8 | ) | 169 | (66 | ) | ||||||||||||
Other income, net | 2 | 171 | 18 | (169 | ) | 22 | |||||||||||||||
Parent’s equity in income of subsidiaries | 147 | — | — | (147 | ) | — | |||||||||||||||
(Loss) income before income taxes | (83 | ) | 200 | (38 | ) | (151 | ) | (72 | ) | ||||||||||||
Income tax benefit (provision) | 84 | (69 | ) | 23 | 1 | 39 | |||||||||||||||
Net income (loss) including noncontrolling interests | 1 | 131 | (15 | ) | (150 | ) | (33 | ) | |||||||||||||
Net loss attributable to noncontrolling interests | — | — | 34 | — | 34 | ||||||||||||||||
Net income attributable to Resolute Forest Products Inc. | $ | 1 | $ | 131 | $ | 19 | $ | (150 | ) | $ | 1 | ||||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | $ | (318 | ) | $ | 69 | $ | (238 | ) | $ | 169 | $ | (318 | ) | ||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME | |||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Sales | $ | — | $ | 3,141 | $ | 3,154 | $ | (1,539 | ) | $ | 4,756 | ||||||||||
Costs and expenses: | |||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | — | 2,680 | 2,440 | (1,539 | ) | 3,581 | |||||||||||||||
Depreciation and amortization | — | 90 | 130 | — | 220 | ||||||||||||||||
Distribution costs | — | 157 | 390 | — | 547 | ||||||||||||||||
Selling, general and administrative expenses | 27 | 58 | 73 | — | 158 | ||||||||||||||||
Closure costs, impairment and other related charges | — | 18 | 28 | — | 46 | ||||||||||||||||
Net gain on disposition of assets | — | (2 | ) | (1 | ) | — | (3 | ) | |||||||||||||
Operating (loss) income | (27 | ) | 140 | 94 | — | 207 | |||||||||||||||
Interest expense | (216 | ) | (7 | ) | (18 | ) | 146 | (95 | ) | ||||||||||||
Other income (expense), net | 6 | 134 | (42 | ) | (146 | ) | (48 | ) | |||||||||||||
Parent’s equity in income of subsidiaries | 199 | — | — | (199 | ) | — | |||||||||||||||
(Loss) income before income taxes | (38 | ) | 267 | 34 | (199 | ) | 64 | ||||||||||||||
Income tax benefit (provision) | 85 | (109 | ) | 5 | — | (19 | ) | ||||||||||||||
Net income including noncontrolling interests | 47 | 158 | 39 | (199 | ) | 45 | |||||||||||||||
Net loss attributable to noncontrolling interests | — | — | 2 | — | 2 | ||||||||||||||||
Net income attributable to Resolute Forest Products Inc. | $ | 47 | $ | 158 | $ | 41 | $ | (199 | ) | $ | 47 | ||||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | $ | (256 | ) | $ | 85 | $ | (188 | ) | $ | 103 | $ | (256 | ) | ||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 165 | $ | 157 | $ | — | $ | 322 | |||||||||||
Accounts receivable, net | — | 433 | 201 | — | 634 | ||||||||||||||||
Accounts receivable from affiliates | — | 335 | 135 | (470 | ) | — | |||||||||||||||
Inventories, net | — | 211 | 326 | (8 | ) | 529 | |||||||||||||||
Deferred income tax assets | — | — | 32 | — | 32 | ||||||||||||||||
Interest receivable from parent | — | 14 | — | (14 | ) | — | |||||||||||||||
Note receivable from affiliate | — | 350 | — | (350 | ) | — | |||||||||||||||
Note receivable from subsidiary | 13 | — | — | (13 | ) | — | |||||||||||||||
Other current assets | — | 18 | 27 | — | 45 | ||||||||||||||||
Total current assets | 13 | 1,526 | 878 | (855 | ) | 1,562 | |||||||||||||||
Fixed assets, net | — | 847 | 1,442 | — | 2,289 | ||||||||||||||||
Amortizable intangible assets, net | — | — | 66 | — | 66 | ||||||||||||||||
Deferred income tax assets | — | 28 | 1,236 | 2 | 1,266 | ||||||||||||||||
Notes receivable from parent | — | 627 | — | (627 | ) | — | |||||||||||||||
Notes receivable from affiliates | — | 170 | — | (170 | ) | — | |||||||||||||||
Investments in and advances to consolidated subsidiaries | 4,734 | 2,085 | — | (6,819 | ) | — | |||||||||||||||
Other assets | 8 | 112 | 82 | — | 202 | ||||||||||||||||
Total assets | $ | 4,755 | $ | 5,395 | $ | 3,704 | $ | (8,469 | ) | $ | 5,385 | ||||||||||
Liabilities and equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 5 | $ | 190 | $ | 338 | $ | — | $ | 533 | |||||||||||
Current portion of long-term debt | — | 1 | 1 | — | 2 | ||||||||||||||||
Accounts payable to affiliates | 352 | 118 | — | (470 | ) | — | |||||||||||||||
Deferred income tax liabilities | — | 32 | — | — | 32 | ||||||||||||||||
Interest payable to subsidiaries | 14 | — | — | (14 | ) | — | |||||||||||||||
Note payable to affiliate | — | — | 350 | (350 | ) | — | |||||||||||||||
Note payable to parent | — | — | 13 | (13 | ) | — | |||||||||||||||
Total current liabilities | 371 | 341 | 702 | (847 | ) | 567 | |||||||||||||||
Long-term debt, net of current portion | 595 | 2 | — | — | 597 | ||||||||||||||||
Long-term debt due to subsidiaries | 627 | — | — | (627 | ) | — | |||||||||||||||
Long-term debt due to affiliate | — | — | 170 | (170 | ) | — | |||||||||||||||
Pension and other postretirement benefit obligations | — | 340 | 954 | — | 1,294 | ||||||||||||||||
Deferred income tax liabilities | — | 1 | 25 | — | 26 | ||||||||||||||||
Other long-term liabilities | — | 26 | 36 | — | 62 | ||||||||||||||||
Total liabilities | 1,593 | 710 | 1,887 | (1,644 | ) | 2,546 | |||||||||||||||
Total equity | 3,162 | 4,685 | 1,817 | (6,825 | ) | 2,839 | |||||||||||||||
Total liabilities and equity | $ | 4,755 | $ | 5,395 | $ | 3,704 | $ | (8,469 | ) | $ | 5,385 | ||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 5 | $ | 171 | $ | 87 | $ | — | $ | 263 | |||||||||||
Accounts receivable, net | — | 383 | 366 | (52 | ) | 697 | |||||||||||||||
Accounts receivable from affiliates | — | 262 | 211 | (473 | ) | — | |||||||||||||||
Inventories, net | — | 225 | 337 | (4 | ) | 558 | |||||||||||||||
Deferred income tax assets | — | 11 | 45 | — | 56 | ||||||||||||||||
Notes and interest receivable from parent | — | 593 | — | (593 | ) | — | |||||||||||||||
Notes receivable from affiliates | — | 9 | 138 | (147 | ) | — | |||||||||||||||
Note receivable from a subsidiary | 41 | — | — | (41 | ) | — | |||||||||||||||
Other current assets | — | 18 | 38 | — | 56 | ||||||||||||||||
Total current assets | 46 | 1,672 | 1,222 | (1,310 | ) | 1,630 | |||||||||||||||
Fixed assets, net | — | 908 | 1,532 | — | 2,440 | ||||||||||||||||
Amortizable intangible assets, net | — | — | 69 | — | 69 | ||||||||||||||||
Deferred income tax assets | — | 594 | 1,405 | 1 | 2,000 | ||||||||||||||||
Note receivable from affiliate | — | 531 | — | (531 | ) | — | |||||||||||||||
Investments in and advances to consolidated subsidiaries | 4,859 | 2,089 | — | (6,948 | ) | — | |||||||||||||||
Other assets | — | 98 | 96 | — | 194 | ||||||||||||||||
Total assets | $ | 4,905 | $ | 5,892 | $ | 4,324 | $ | (8,788 | ) | $ | 6,333 | ||||||||||
Liabilities and equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 11 | $ | 198 | $ | 424 | $ | (52 | ) | $ | 581 | ||||||||||
Current portion of long-term debt | — | — | 2 | — | 2 | ||||||||||||||||
Accounts payable to affiliates | 336 | 135 | 2 | (473 | ) | — | |||||||||||||||
Notes and interest payable to subsidiaries | 593 | — | — | (593 | ) | — | |||||||||||||||
Notes payable to affiliates | — | 138 | 9 | (147 | ) | — | |||||||||||||||
Note payable to parent | — | — | 41 | (41 | ) | — | |||||||||||||||
Total current liabilities | 940 | 471 | 478 | (1,306 | ) | 583 | |||||||||||||||
Long-term debt, net of current portion | 528 | 3 | 1 | — | 532 | ||||||||||||||||
Long-term debt due to affiliate | — | — | 531 | (531 | ) | — | |||||||||||||||
Pension and other postretirement benefit obligations | — | 559 | 1,387 | — | 1,946 | ||||||||||||||||
Deferred income tax liabilities | — | — | 75 | — | 75 | ||||||||||||||||
Other long-term liabilities | — | 36 | 36 | — | 72 | ||||||||||||||||
Total liabilities | 1,468 | 1,069 | 2,508 | (1,837 | ) | 3,208 | |||||||||||||||
Total equity | 3,437 | 4,823 | 1,816 | (6,951 | ) | 3,125 | |||||||||||||||
Total liabilities and equity | $ | 4,905 | $ | 5,892 | $ | 4,324 | $ | (8,788 | ) | $ | 6,333 | ||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (5 | ) | $ | 41 | $ | 170 | $ | — | $ | 206 | ||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Cash invested in fixed assets | — | (55 | ) | (106 | ) | — | (161 | ) | |||||||||||||
Disposition of assets | — | — | 4 | — | 4 | ||||||||||||||||
Proceeds from insurance settlements | — | — | 4 | — | 4 | ||||||||||||||||
Decrease in restricted cash | — | — | 8 | — | 8 | ||||||||||||||||
Increase in deposit requirements for letters of credit, net | — | — | (2 | ) | — | (2 | ) | ||||||||||||||
Other investing activities, net | — | — | (4 | ) | — | (4 | ) | ||||||||||||||
Net cash used in investing activities | — | (55 | ) | (96 | ) | — | (151 | ) | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Issuance of long-term debt | 594 | — | — | — | 594 | ||||||||||||||||
Premium paid on extinguishment of debt | (84 | ) | — | — | — | (84 | ) | ||||||||||||||
Dividend to noncontrolling interest | — | — | (2 | ) | (2 | ) | |||||||||||||||
Payments of debt | (501 | ) | — | (2 | ) | — | (503 | ) | |||||||||||||
Payments of financing and credit facility fees | (9 | ) | — | — | — | (9 | ) | ||||||||||||||
Contribution of capital from noncontrolling interest | — | 8 | — | — | 8 | ||||||||||||||||
Net cash provided by (used in) financing activities | — | 8 | (4 | ) | — | 4 | |||||||||||||||
Net (decrease) increase in cash and cash equivalents | (5 | ) | (6 | ) | 70 | — | 59 | ||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||
Beginning of year | 5 | 171 | 87 | — | 263 | ||||||||||||||||
End of year | $ | — | $ | 165 | $ | 157 | $ | — | $ | 322 | |||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 249 | $ | 17 | $ | — | $ | 266 | |||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Cash invested in fixed assets | — | (42 | ) | (127 | ) | — | (169 | ) | |||||||||||||
Disposition of our interest in our Mersey operations, net of cash | — | — | 14 | — | 14 | ||||||||||||||||
Disposition of other assets | — | 1 | 35 | — | 36 | ||||||||||||||||
Acquisition of Fibrek, net of cash acquired | — | — | (24 | ) | — | (24 | ) | ||||||||||||||
Decrease in restricted cash | — | — | 76 | — | 76 | ||||||||||||||||
Increase in deposit requirements for letters of credit, net | — | — | (12 | ) | — | (12 | ) | ||||||||||||||
Advances from (to) affiliates | 72 | (56 | ) | (16 | ) | — | — | ||||||||||||||
Other investing activities, net | — | — | 4 | — | 4 | ||||||||||||||||
Net cash provided by (used in) investing activities | 72 | (97 | ) | (50 | ) | — | (75 | ) | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Purchases of treasury stock | (67 | ) | — | — | — | (67 | ) | ||||||||||||||
Dividends and distribution to noncontrolling interests | — | — | (5 | ) | — | (5 | ) | ||||||||||||||
Acquisition of noncontrolling interest | — | — | (27 | ) | — | (27 | ) | ||||||||||||||
Payments of debt | — | (109 | ) | (89 | ) | — | (198 | ) | |||||||||||||
Net cash used in financing activities | (67 | ) | (109 | ) | (121 | ) | — | (297 | ) | ||||||||||||
Net increase (decrease) in cash and cash equivalents | 5 | 43 | (154 | ) | — | (106 | ) | ||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||
Beginning of year | — | 128 | 241 | — | 369 | ||||||||||||||||
End of year | $ | 5 | $ | 171 | $ | 87 | $ | — | $ | 263 | |||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 188 | $ | 10 | $ | — | $ | 198 | |||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Cash invested in fixed assets | — | (30 | ) | (67 | ) | — | (97 | ) | |||||||||||||
Disposition of investment in ACH | — | — | 296 | — | 296 | ||||||||||||||||
Disposition of other assets | — | 11 | 8 | — | 19 | ||||||||||||||||
Proceeds from holdback related to disposition of investment in MPCo | — | — | 29 | — | 29 | ||||||||||||||||
Proceeds from insurance settlements | — | — | 8 | — | 8 | ||||||||||||||||
Increase in restricted cash | — | — | (2 | ) | — | (2 | ) | ||||||||||||||
Increase in deposit requirements for letters of credit, net | — | — | (8 | ) | — | (8 | ) | ||||||||||||||
Advances from (to) affiliates | — | 150 | (150 | ) | — | — | |||||||||||||||
Net cash provided by investing activities | — | 131 | 114 | — | 245 | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Dividends and distribution to noncontrolling interests | — | — | (21 | ) | — | (21 | ) | ||||||||||||||
Acquisition of noncontrolling interest | — | — | (15 | ) | — | (15 | ) | ||||||||||||||
Payments of debt | — | (354 | ) | — | — | (354 | ) | ||||||||||||||
Payment of credit facility fees | — | (1 | ) | (2 | ) | — | (3 | ) | |||||||||||||
Net cash used in financing activities | — | (355 | ) | (38 | ) | — | (393 | ) | |||||||||||||
Net (decrease) increase in cash and cash equivalents | — | (36 | ) | 86 | — | 50 | |||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||
Beginning of year | — | 164 | 155 | — | 319 | ||||||||||||||||
End of year | $ | — | $ | 128 | $ | 241 | $ | — | $ | 369 | |||||||||||
Quarterly_Information
Quarterly Information | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Quarterly Information | ' | ||||||||||||||||||||
Note 22. Quarterly Information (Unaudited) | |||||||||||||||||||||
Year ended December 31, 2013 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Year | ||||||||||||||||
(In millions, except per share amounts) | |||||||||||||||||||||
Sales | $ | 1,074 | $ | 1,107 | $ | 1,130 | $ | 1,150 | $ | 4,461 | |||||||||||
Operating (loss) income (1) | (49 | ) | 3 | 36 | 8 | (2 | ) | ||||||||||||||
Net loss attributable to Resolute Forest Products Inc. | (5 | ) | (43 | ) | (588 | ) | (3 | ) | (639 | ) | |||||||||||
Basic net loss per share attributable to Resolute Forest Products Inc. common shareholders | (0.05 | ) | (0.45 | ) | (6.22 | ) | (0.03 | ) | (6.75 | ) | |||||||||||
Diluted net loss per share attributable to Resolute Forest Products Inc. common shareholders | (0.05 | ) | (0.45 | ) | (6.22 | ) | (0.03 | ) | (6.75 | ) | |||||||||||
Year ended December 31, 2012 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Year | ||||||||||||||||
(In millions, except per share amounts) | |||||||||||||||||||||
Sales | $ | 1,054 | $ | 1,168 | $ | 1,153 | $ | 1,128 | $ | 4,503 | |||||||||||
Operating income (loss) (2) | 31 | (32 | ) | 31 | (58 | ) | (28 | ) | |||||||||||||
Net income (loss) attributable to Resolute Forest Products Inc. | 26 | (17 | ) | 37 | (45 | ) | 1 | ||||||||||||||
Basic net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | 0.27 | (0.17 | ) | 0.38 | (0.47 | ) | 0.01 | ||||||||||||||
Diluted net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | 0.27 | (0.17 | ) | 0.38 | (0.47 | ) | 0.01 | ||||||||||||||
(1)Operating loss for the year ended December 31, 2013 included the following significant items: | |||||||||||||||||||||
(In millions) | First | Second | Third | Fourth | Year | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Net gain on disposition of assets | $ | — | $ | 2 | $ | — | $ | — | $ | 2 | |||||||||||
Closure costs, impairment and other related charges | (40 | ) | (12 | ) | (4 | ) | (33 | ) | (89 | ) | |||||||||||
Inventory write-downs related to closures | (4 | ) | (1 | ) | — | (6 | ) | (11 | ) | ||||||||||||
Transaction costs | (3 | ) | (2 | ) | — | (1 | ) | (6 | ) | ||||||||||||
Start up costs of idled mill | (15 | ) | (13 | ) | (3 | ) | (1 | ) | (32 | ) | |||||||||||
$ | (62 | ) | $ | (26 | ) | $ | (7 | ) | $ | (41 | ) | $ | (136 | ) | |||||||
(2)Operating income (loss) for the year ended December 31, 2012 included the following significant items: | |||||||||||||||||||||
(In millions) | First | Second | Third | Fourth | Year | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Net gain on disposition of assets | $ | 23 | $ | 1 | $ | 4 | $ | 7 | $ | 35 | |||||||||||
Closure costs, impairment and other related charges | (5 | ) | (88 | ) | (5 | ) | (87 | ) | (185 | ) | |||||||||||
Inventory write-downs related to closures | — | (7 | ) | — | (5 | ) | (12 | ) | |||||||||||||
Severance costs | (2 | ) | (1 | ) | — | (2 | ) | (5 | ) | ||||||||||||
Transaction costs | (4 | ) | (3 | ) | — | (1 | ) | (8 | ) | ||||||||||||
Start up costs of idled mills | — | — | (5 | ) | (8 | ) | (13 | ) | |||||||||||||
$ | 12 | $ | (98 | ) | $ | (6 | ) | $ | (96 | ) | $ | (188 | ) | ||||||||
Subsequent_Event
Subsequent Event | 12 Months Ended | |
Dec. 31, 2013 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Event | ' | |
Note 23. Subsequent Events | ||
The following significant events occurred subsequent to December 31, 2013: | ||
• | The province of Québec informed us on December 30, 2011 that it intended not to renew the water rights associated with our Jim-Gray hydroelectric dam and to require us to transfer the property to the province for no consideration. The province had granted us several extensions, through March 1, 2014, to transfer the property. As part of a master agreement reached with the province on February 28, 2014, among other things, it renewed the water rights associated with the Jim-Gray dam for a period of 10 years as of January 1, 2012, which are further renewable under certain conditions. Accordingly, we will retain the property of the dam until the expiry of the associated water rights. | |
• | On January 14, 2014, we announced an extended period of market-related outage at a paper mill in Fort Frances. For additional information, see Note 5, “Closure Costs, Impairment and Other Related Charges,” and Note 8, “Accumulated Other Comprehensive Loss.” | |
• | Following the five year renewal of the master collective agreement covering 4 unionized U.S. pulp and paper mills, effective as of February 14, 2014, we will amend our U.S. OPEB plan, whereby unionized post-65 active employees will be provided Medicare coverage via a Medicare Exchange program, effective January 1, 2015. As a result of this plan amendment, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our consolidated balance sheet will both be decreased in 2014 by approximately $40 million. | |
• | The ABL Credit Facility was amended as of February 25, 2014, to, among other things: | |
• | release the liens securing the ABL Credit Facility on that portion of the assets of the U.S. Borrowers and the U.S. Guarantors which had secured the 2018 Notes on a first priority basis, primarily consisting of real property, equipment, intellectual property and the equity of our subsidiaries, with the ability to re-implement those liens with a second lien priority should we issue new secured debt which is to be secured by a second lien on our accounts receivable and inventory and other assets which continue to secure the ABL Credit Facility; | |
• | reduce the excess availability thresholds that trigger a minimum consolidated fixed charge coverage ratio to the greater of: (i) $50 million and (ii) 10% of the lesser of (A) the total commitments and (B) the borrowing base then in effect; | |
• | increase the uncommitted incremental loan facility to $200 million; | |
• | increase our borrowing capacity by expanding our ability to create liens if the debt incurrence test is met and by increasing minimum baskets for unsecured and secured debt to $500 million each, subject to certain conditions; and | |
• | increase the borrowing base by including 90% of eligible international accounts receivable and 100% of cash deposits, limited to $100 million and subject to certain conditions. |
Schedule_I_Condensed_Financial
Schedule I - Condensed Financial Statements and Notes | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Condensed Financial Statements and Notes | ' | ||||||||||||||||||||||||
Resolute Forest Products Inc. | |||||||||||||||||||||||||
(Parent Company Only) | |||||||||||||||||||||||||
Condensed Statements of Operations, (Deficit) Retained Earnings and Comprehensive Loss | |||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Expenses: | |||||||||||||||||||||||||
Selling, general and administrative expenses | $ | 18 | $ | 18 | $ | 27 | |||||||||||||||||||
Operating loss | (18 | ) | (18 | ) | (27 | ) | |||||||||||||||||||
Interest expense | (89 | ) | (214 | ) | (216 | ) | |||||||||||||||||||
Other (expense) income, net | (60 | ) | 2 | 6 | |||||||||||||||||||||
Equity in income of subsidiaries | (472 | ) | 147 | 199 | |||||||||||||||||||||
Loss before income taxes | (639 | ) | (83 | ) | (38 | ) | |||||||||||||||||||
Income tax benefit | — | 84 | 85 | ||||||||||||||||||||||
Net (loss) income | (639 | ) | 1 | 47 | |||||||||||||||||||||
Retained earnings as of beginning of year | 47 | 47 | — | ||||||||||||||||||||||
Acquisition of Fibrek | — | (1 | ) | — | |||||||||||||||||||||
(Deficit) retained earnings as of end of year | $ | (592 | ) | $ | 47 | $ | 47 | ||||||||||||||||||
Comprehensive loss | $ | (296 | ) | $ | (318 | ) | $ | (256 | ) | ||||||||||||||||
Resolute Forest Products Inc. | |||||||||||||||||||||||||
(Parent Company Only) | |||||||||||||||||||||||||
Condensed Balance Sheets | |||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 5 | |||||||||||||||||||||
Note receivable from a subsidiary | 13 | 41 | |||||||||||||||||||||||
Total current assets | 13 | 46 | |||||||||||||||||||||||
Investment in and advances to subsidiaries | 4,734 | 4,859 | |||||||||||||||||||||||
Other assets | 8 | — | |||||||||||||||||||||||
Total assets | $ | 4,755 | $ | 4,905 | |||||||||||||||||||||
Liabilities and equity | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 5 | $ | 11 | |||||||||||||||||||||
Accounts payable to subsidiaries | 352 | 336 | |||||||||||||||||||||||
Notes and interest payable to subsidiaries | 14 | 593 | |||||||||||||||||||||||
Total current liabilities | 371 | 940 | |||||||||||||||||||||||
Long-term debt | 595 | 528 | |||||||||||||||||||||||
Long-term debt due to subsidiaries | 627 | — | |||||||||||||||||||||||
Total liabilities | 1,593 | 1,468 | |||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||
Common stock | — | — | |||||||||||||||||||||||
Additional paid-in capital | 4,086 | 4,065 | |||||||||||||||||||||||
(Deficit) retained earnings | (592 | ) | 47 | ||||||||||||||||||||||
Accumulated other comprehensive loss | (271 | ) | (614 | ) | |||||||||||||||||||||
Treasury stock | (61 | ) | (61 | ) | |||||||||||||||||||||
Total Resolute Forest Products Inc. equity | 3,162 | 3,437 | |||||||||||||||||||||||
Total liabilities and equity | $ | 4,755 | $ | 4,905 | |||||||||||||||||||||
Resolute Forest Products Inc. | |||||||||||||||||||||||||
(Parent Company Only) | |||||||||||||||||||||||||
Condensed Statements of Cash Flows | |||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Net cash used in operating activities | $ | (5 | ) | $ | — | $ | — | ||||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Advances from affiliates | — | 72 | — | ||||||||||||||||||||||
Net cash provided by investing activities | — | 72 | — | ||||||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Issuance of long-term debt | 594 | — | — | ||||||||||||||||||||||
Premium paid on extinguishment of debt | (84 | ) | — | — | |||||||||||||||||||||
Purchases of treasury stock | — | (67 | ) | — | |||||||||||||||||||||
Payments of debt | (501 | ) | — | — | |||||||||||||||||||||
Payments of financing and credit facility fees | (9 | ) | — | — | |||||||||||||||||||||
Net cash used in financing activities | — | (67 | ) | — | |||||||||||||||||||||
Net (decrease) increase in cash and cash equivalents | (5 | ) | 5 | — | |||||||||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||||||
Beginning of year | 5 | — | — | ||||||||||||||||||||||
End of year | $ | — | $ | 5 | $ | — | |||||||||||||||||||
Note A. Organization and Basis of Presentation | |||||||||||||||||||||||||
The accompanying condensed financial statements, including the notes thereto, should be read in conjunction with the consolidated financial statements of Resolute Forest Products Inc. included in Item 8 of this Form 10-K (“Consolidated Financial Statements”). When the term “Resolute Forest Products Inc.” (also referred to as “Resolute Forest Products,” “we,” “us” or “our”) is used, we mean Resolute Forest Products Inc., the parent company only. Resolute Forest Products Inc. is incorporated in Delaware and is a holding company whose only significant asset is an investment in the common stock of our subsidiaries. | |||||||||||||||||||||||||
All amounts are expressed in U.S. dollars, unless otherwise indicated. Defined terms in this Schedule I have the meanings ascribed to them in the Consolidated Financial Statements. In accordance with the guidance of FASB ASC 250, certain prior year amounts in our condensed financial statements have been adjusted due to our change in accounting policy for planned major maintenance costs, as discussed in Note 1, “Organization and Basis of Presentation - Change in accounting policy for planned major maintenance costs,” to the Consolidated Financial Statements. | |||||||||||||||||||||||||
The effect of the change in accounting policy on our Condensed Consolidated Statements of Operations for the year ended December 31, 2013 was as follows: | |||||||||||||||||||||||||
(In millions) | Before Accounting Policy Change | Adjustment | As | ||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
Equity in income of subsidiaries | $ | (474 | ) | $ | 2 | $ | (472 | ) | |||||||||||||||||
Loss before income taxes | (641 | ) | 2 | (639 | ) | ||||||||||||||||||||
Net loss | (641 | ) | 2 | (639 | ) | ||||||||||||||||||||
Comprehensive loss | (298 | ) | 2 | (296 | ) | ||||||||||||||||||||
The effect of the change in accounting policy on our Condensed Consolidated Statements of Operations for the year ended December 31, 2012 was as follows: | |||||||||||||||||||||||||
(In millions) | As Previously Reported | Adjustment | As | ||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
Equity in income of subsidiaries | $ | 144 | $ | 3 | $ | 147 | |||||||||||||||||||
Loss before income taxes | (86 | ) | 3 | (83 | ) | ||||||||||||||||||||
Net (loss) income | (2 | ) | 3 | 1 | |||||||||||||||||||||
Comprehensive loss | (321 | ) | 3 | (318 | ) | ||||||||||||||||||||
The effect of the change in accounting policy on our Condensed Consolidated Statements of Operations for the year ended December 31, 2011 was as follows: | |||||||||||||||||||||||||
(In millions) | As Previously Reported | Adjustment | As | ||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
Equity in income of subsidiaries | $ | 193 | $ | 6 | $ | 199 | |||||||||||||||||||
Loss before income taxes | (44 | ) | 6 | (38 | ) | ||||||||||||||||||||
Net income | 41 | 6 | 47 | ||||||||||||||||||||||
Comprehensive loss | (262 | ) | 6 | (256 | ) | ||||||||||||||||||||
The effect of the change in accounting policy on our Condensed Consolidated Balance Sheets as of December 31, 2013 and December 31, 2012 was as follows: | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
(In millions) | Before Accounting Policy Change | Adjustment | As | As Previously Reported | Effect of Change | As | |||||||||||||||||||
Reported | Adjusted | ||||||||||||||||||||||||
Investment in and advances to subsidiaries | $ | 4,723 | $ | 11 | $ | 4,734 | $ | 4,850 | $ | 9 | $ | 4,859 | |||||||||||||
(Deficit) retained earnings | (603 | ) | 11 | (592 | ) | 38 | 9 | 47 | |||||||||||||||||
As a result of the change, retained earnings as of December 31, 2011 increased by $6 million, while having no impact on our retained earnings as of December 31, 2010. | |||||||||||||||||||||||||
Note B. Financing Arrangements | |||||||||||||||||||||||||
Senior notes | |||||||||||||||||||||||||
2023 Notes | |||||||||||||||||||||||||
On May 8, 2013, we issued $600 million aggregate principal amount of 2023 Notes pursuant to an indenture as of that date. Upon their issuance, the 2023 Notes were recorded at their fair value, which resulted in a discount, which is being amortized to interest expense using the interest method over the term of the notes. As of December 31, 2013, the carrying value of the 2023 Notes was $595 million, which included the unamortized discount of $5 million. Interest on the notes was paid by Resolute FP US Inc. on our behalf (see Note C, “Transactions with Related Parties”). For a discussion of the 2023 Notes, see Note 13, “Long-Term Debt – 2023 Notes,” to the Consolidated Financial Statements. | |||||||||||||||||||||||||
2018 Notes | |||||||||||||||||||||||||
Our 2018 Notes had a maturity date of October 15, 2018. For a discussion of the 2018 Notes, see Note 13, “Long-Term Debt – 2018 Notes,” to the Consolidated Financial Statements. | |||||||||||||||||||||||||
On June 13, 2011, the first $100 million of net proceeds from the sale of our investment in ACH was used to redeem $94 million of principal amount of the 2018 Notes at a redemption price of 105% of the principal amount, plus accrued and unpaid interest. Additionally, on each of June 29, 2011, November 4, 2011 and October 10, 2012, $85 million of principal amount of the 2018 Notes was redeemed at a redemption price of 103% of the principal amount, plus accrued and unpaid interest. As a result of these redemptions, in 2012 and 2011, we recorded net gains on extinguishment of debt of $2 million and $6 million, respectively, which were included in “Other (expense) income, net” in our Condensed Statements of Operations, (Deficit) Retained Earnings and Comprehensive Loss (“Statements of Operations”). These redemptions and all interest on the notes were paid by Resolute FP US Inc. on our behalf (see Note C, “Transactions with Related Parties”). | |||||||||||||||||||||||||
On May 8, 2013, we used the proceeds of the sale of the 2023 Notes to purchase $496 million aggregate principal amount of the 2018 Notes in connection with the tender offer and consent solicitation that expired on May 21, 2013. Aggregate consideration for the purchase was $584 million, including accrued and unpaid interest of $4 million. We then redeemed the remaining $5 million of principal amount of the 2018 Notes on October 8, 2013, at a redemption price of 103% of the principal amount, plus accrued and unpaid interest. As a result, we recorded a loss on extinguishment of debt of $59 million (net of $25 million write-down of unamortized premium) for the year ended December 31, 2013, which was included in “Other (expense) income, net” in our Statements of Operations. | |||||||||||||||||||||||||
The 2018 Notes were recorded at their fair value, which resulted in a premium, which was being amortized to interest expense using the interest method over the term of the notes. As of December 31, 2012, the carrying value of the 2018 Notes was $528 million, which included the unamortized premium of $27 million. | |||||||||||||||||||||||||
ABL Credit Facility | |||||||||||||||||||||||||
In 2010, we and the Borrowers entered into the ABL Credit Facility with a syndicate of lenders. The proceeds of the ABL Credit Facility can be used by us for, among other things, working capital, capital expenditures, permitted acquisitions and other general corporate purposes. | |||||||||||||||||||||||||
On April 29, 2013, we entered into an Incremental Commitment Agreement (the “agreement”) with respect to the credit agreement that governs the ABL Credit Facility, increasing the aggregate amount of the ABL Credit Facility from $600 million to $665 million. The ABL Credit Facility, as so increased, matures on October 28, 2016 and provides for an asset-based, revolving credit facility with an aggregate lender commitment of up to $665 million at any time outstanding, subject to borrowing base availability, including a $60 million swingline sub-facility and a $200 million letter of credit sub-facility. The ABL Credit Facility includes a $465 million tranche available to the Borrowers and a $200 million tranche available solely to the U.S. Borrowers, in each case subject to the borrowing base availability of those Borrowers. The ABL Credit Facility also provides for an uncommitted incremental loan facility of up to $135 million, subject to certain terms and conditions set forth in the ABL Credit Facility. For a discussion of our ABL Credit Facility, see Note 13, “Long-Term Debt – ABL Credit Facility,” to the Consolidated Financial Statements. | |||||||||||||||||||||||||
On February 25, 2014, the ABL Credit Facility was amended. For additional information see Note 23, “Subsequent Events,” to the Consolidated Financial Statements. | |||||||||||||||||||||||||
Financial covenants | |||||||||||||||||||||||||
The 2023 Notes and the ABL Credit Facility impose restrictions on the ability of certain subsidiaries to transfer funds or other assets to us in the form of dividends or advances. These restrictions could affect our operations or our ability to pay dividends in the future. | |||||||||||||||||||||||||
Note C. Transactions with Related Parties | |||||||||||||||||||||||||
Note Receivable | |||||||||||||||||||||||||
On December 9, 2010, Resolute FP Canada Inc. entered into a promissory note payable to us in the amount of $250 million, bearing interest at the Applicable Federal Rate set forth by the Internal Revenue Service for obligations of this type, due on demand by us. Interest recorded on the note was less than $1 million in each of 2013, 2012 and 2011, and is included in “Other (expense) income, net” in our Statements of Operations. As of December 31, 2013 and 2012, the outstanding balance of the note and accrued interest on the note totaled $13 million and $41 million, respectively, and approximated fair value and was included in “Note receivable from a subsidiary” in our Condensed Balance Sheets. | |||||||||||||||||||||||||
Notes Payable | |||||||||||||||||||||||||
Long-term debt due to subsidiaries, including current portion and interest payable to subsidiaries, as of December 31, 2013 and 2012, was comprised of the following: | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||||||
Total debt due to subsidiaries including accrued interest: | |||||||||||||||||||||||||
RFP US note | $ | 364 | $ | 332 | |||||||||||||||||||||
Donohue note | 277 | 261 | |||||||||||||||||||||||
Total debt due to subsidiaries including accrued interest | 641 | 593 | |||||||||||||||||||||||
Less: Current portion of long-term debt due to subsidiaries including accrued interest | |||||||||||||||||||||||||
RFP US note | (11 | ) | (332 | ) | |||||||||||||||||||||
Donohue note | (3 | ) | (261 | ) | |||||||||||||||||||||
Total | (14 | ) | (593 | ) | |||||||||||||||||||||
Long-term debt due to subsidiaries, net of current portion and accrued interest | $ | 627 | $ | — | |||||||||||||||||||||
Interest expense on notes payable to subsidiaries for the years ended December 31, 2013, 2012 and 2011 was comprised of the following: | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
RFP US note | $ | 32 | $ | 127 | $ | 115 | |||||||||||||||||||
Donohue note | 16 | 32 | 29 | ||||||||||||||||||||||
$ | 48 | $ | 159 | $ | 144 | ||||||||||||||||||||
In 2008, we contributed to Resolute FP US Inc. a promissory note due June 30, 2013, executed by us in favor of Resolute FP US Inc. in exchange for the ownership interest it held in one of its subsidiaries (“RFP US note”). On December 20, 2012, we completed a series of internal transactions with our subsidiaries, Resolute FP US Inc. and Resolute FP Canada Inc. These transactions involved cash transfers related to capital reductions, the issuance of intercompany notes, and the partial repayment of existing intercompany obligations. As a result of these transactions, we reduced both our obligation to Resolute FP US Inc. and our paid-in capital in Resolute FP Canada Inc. by $805 million. On June 30, 2013, we entered into an agreement to amend and restate our RFP US note. As amended, the amount of the promissory note was $353 million (decreased from $650 million) with an interest rate of 6.5% (decreased from 12.5%) due June 30, 2018. As of December 31, 2013 and 2012, the fair value of the RFP US note approximated its carrying value. | |||||||||||||||||||||||||
In 2008, AbitibiBowater US Holding LLC (“Holding”), a subsidiary of ours, entered into a promissory note payable to Donohue due March 31, 2013 (the “Donohue note”). On the Emergence Date, we assumed, by merger with Holding, its obligations with respect to this promissory note. On March 28, 2013, we entered into an agreement to amend and restate our Donohue note. As amended, the amount of the promissory note was $270 million (increased from $139 million) with an interest rate of 3.57% (decreased from 13.75%) due March 31, 2015. As of December 31, 2013 and 2012, the fair value of the Donohue note approximated its carrying value. | |||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||
As a result of the contribution of capital from the noncontrolling interest and the subsequent acquisition of the noncontrolling interest of CNC, “Additional paid-in capital” increased by $14 million in 2013. For additional information, see Note 7, “Other (Expense) Income, Net” to the Consolidated Financial Statements. | |||||||||||||||||||||||||
In connection with our acquisition of Fibrek, Resolute FP Canada Inc., paid us $43 million in 2012 in exchange for the 3.3 million shares of our common stock that were distributed to Fibrek’s shareholders as partial consideration for the Fibrek shares purchased by Resolute FP Canada Inc. | |||||||||||||||||||||||||
On May 22, 2012, our Board of Directors approved a share repurchase program of up to 10% of our common stock, for an aggregate purchase price of up to $100 million. In 2012, we repurchased 5,610,152 shares at a cost of $67 million. The repurchases of shares were funded by our subsidiaries ($51 million from Resolute FP US Inc. and $16 million from Resolute FP Canada Inc.). We did not repurchase shares in 2013. | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Some of our subsidiaries provide certain corporate administrative services on our behalf and certain of our subsidiaries, including legal, finance, tax, risk management, IT, executive management, payroll and employee benefits. As such, these subsidiaries have charged us a portion of their general and administrative expenses, based on specific identification or on an appropriate allocation key (e.g., sales, purchases, headcount, etc.) determined by the type of expense or department. In 2013, 2012 and 2011, these subsidiaries charged us $17 million, $17 million and $23 million, respectively, for certain corporate administrative expenses, which were recorded in “Selling, general and administrative expenses” in our Statements of Operations. | |||||||||||||||||||||||||
As discussed in Note B, “Financing Arrangements,” in 2012 and 2011, Resolute FP US Inc. paid on our behalf $85 million and $264 million, respectively, of principal amount of the 2018 Notes plus the redemption premiums (approximately $3 million and $10 million, respectively). Resolute FP US Inc. also paid all interest on the 2018 Notes in 2013, 2012 and 2011 (approximately $29 million, $60 million and $85 million, respectively). Additionally, Resolute FP US Inc. paid on our behalf the interest on our 2023 Notes totaling $18 million. | |||||||||||||||||||||||||
In 2013, a valuation allowance was recorded on the net deferred income tax assets of the U.S. consolidated group. Accordingly, we recorded a valuation allowance on the current year deferred income tax assets generated. For more information see Note 15, “Income Taxes” to the Consolidated Financial Statements. In 2012 and 2011, we recorded a tax benefit of $84 million and $85 million, respectively, which could be used to offset the future current income tax liability of our U.S. subsidiaries with which we file a consolidated U.S. income tax return; accordingly, we have recorded these amounts through intercompany. | |||||||||||||||||||||||||
We guarantee debt and other obligations of our subsidiaries with certain third parties. These guarantees are primarily to companies that provide energy required to operate certain facilities within our subsidiaries. Such obligations include the guarantee of payments owing by subsidiaries when due under various agreements to their respective counterparties. These guarantees would require payment from us only in the event of default on payment by the subsidiary. As of December 31, 2013 and 2012, the maximum potential amount of future payments that we could be required to make under these guarantees was $35 million and $31 million, respectively. The guarantees have terms ranging from 10 to 90 days. | |||||||||||||||||||||||||
As part of the agreements that Resolute FP Canada Inc. entered into with the provinces of Québec and Ontario for funding relief with respect to aggregate solvency deficits in its material Canadian registered pension plans, Resolute FP Canada Inc. agreed to a number of undertakings, one of which is a restriction on the payment of dividends to us. For additional information, see Note 14, “Pension and Other Postretirement Benefit Plans – Canadian pension funding,” to the Consolidated Financial Statements. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Consolidation | ' | |
Consolidation | ||
Our consolidated financial statements include the accounts of Resolute Forest Products Inc. and its controlled subsidiaries. All significant transactions and balances between these companies have been eliminated. | ||
Equity Method Investments | ' | |
Equity method investments | ||
We account for our investments in affiliated companies where we have significant influence, but not control over their operations, using the equity method of accounting. | ||
Use of estimates | ' | |
Use of estimates | ||
In preparing our consolidated financial statements in accordance with U.S. GAAP, management is required to make accounting estimates based on assumptions, judgments and projections of future results of operations and cash flows. These estimates and assumptions affect the reported amounts of revenues and expenses during the periods presented and the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements. The most critical estimates relate to the assumptions underlying the benefit obligations of our pension and other postretirement benefit (“OPEB”) plans, the recoverability of deferred income tax assets and the carrying values of our long-lived assets. Estimates, assumptions and judgments are based on a number of factors, including historical experience, recent events, existing conditions, internal budgets and forecasts, projections obtained from industry research firms and other data that management believes are reasonable under the circumstances. Actual results could differ materially from those estimates under different assumptions or conditions. | ||
Cash and cash equivalents | ' | |
Cash and cash equivalents | ||
Cash and cash equivalents generally consist of direct obligations of the U.S. and Canadian governments and their agencies, demand deposits and other short-term, highly liquid securities with a maturity of three months or less from the date of purchase. | ||
Accounts receivable | ' | |
Accounts receivable | ||
Accounts receivable are recorded at cost, net of an allowance for doubtful accounts that is based on expected collectibility, and such carrying value approximates fair value. | ||
Inventories | ' | |
Inventories | ||
Inventories are stated at the lower of cost or market value using the average cost method. Cost includes labor, materials and production overhead, which is based on the normal capacity of our production facilities. Unallocated overhead, including production overhead associated with abnormal production levels, is recognized in “Cost of sales, excluding depreciation, amortization and distribution costs” in our Consolidated Statements of Operations when incurred. | ||
Fixed assets, including timber and timberlands | ' | |
Fixed assets | ||
Fixed assets acquired are stated at acquisition cost less accumulated depreciation and impairment. The cost of the fixed assets is reduced by any investment tax credits or government capital grants received. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets. We capitalize interest on borrowings during the construction period of major capital projects as part of the related asset and amortize the capitalized interest into earnings over the related asset’s remaining useful life. As discussed in Note 1, “Organization and Basis of Presentation – Change in accounting policy for planned major maintenance costs,” we elected to change our accounting policy for planned major maintenance costs to the deferral method, whereby the costs of each planned major maintenance activity are capitalized to “Other current assets” in our Consolidated Balance Sheets and amortized to “Cost of sales, excluding depreciation, amortization and distribution costs” in our Consolidated Statements of Operations on a straight-line basis over the estimated period until the next planned major maintenance activity. All other routine repair and maintenance costs are expensed as incurred. | ||
Environmental costs | ' | |
Environmental costs | ||
We expense environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. These costs are included in “Cost of sales, excluding depreciation, amortization and distribution costs” or “Other (expense) income, net” in our Consolidated Statements of Operations. Expenditures that extend the life of the related property are capitalized. We determine our liability on a site-by-site basis and record a liability at the time it is probable and can be reasonably estimated. Such accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are discounted to their present value when the amount and timing of expected cash payments are reliably determinable. | ||
Amortizable intangible assets | ' | |
Amortizable intangible assets | ||
Amortizable intangible assets are stated at cost less accumulated amortization. Amortization is provided on a straight-line basis over the estimated useful lives of the assets. | ||
Impairment of long-lived assets | ' | |
Impairment of long-lived assets | ||
The unit of accounting for impairment testing for long-lived assets is its group, which includes fixed assets, amortizable intangible assets and liabilities directly related to those assets (herein defined as “asset group”). For asset groups that are held and used, that group represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other asset groups. For asset groups that are to be disposed of by sale or otherwise, that group represents assets to be disposed of together as a group in a single transaction and liabilities directly associated with those assets that will be transferred in the transaction. | ||
Long-lived assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value of an asset group may no longer be recoverable. The recoverability of an asset group that is held and used is tested by comparing the carrying value of the asset group to the sum of the estimated undiscounted future cash flows expected to be generated by that asset group. In estimating the undiscounted future cash flows, we use projections of cash flows directly associated with, and which are expected to arise as a direct result of, the use and eventual disposition of the asset group. If there are multiple plausible scenarios for the use and eventual disposition of an asset group, we assess the likelihood of each scenario occurring in order to determine a probability-weighted estimate of the undiscounted future cash flows. The principal assumptions include periods of operation, projections of product pricing, production levels and sales volumes, product costs, market supply and demand, foreign exchange rates, inflation and projected capital spending. Changes in any of these assumptions could have a material effect on the estimated undiscounted future cash flows expected to be generated by the asset group. If it is determined that an asset group is not recoverable, an impairment loss is recognized in the amount that the asset group’s carrying value exceeds its fair value. The fair value of a long-lived asset group is determined in accordance with our accounting policy for fair value measurements, as discussed below. If it is determined that the carrying value of an asset group is recoverable, we review and adjust, as necessary, the estimated useful lives of the assets in the group. | ||
When an asset group meets the criteria for classification as an asset held for sale, an impairment charge is recognized, if necessary, based on the excess of the asset group’s carrying value over the expected net proceeds from the sale (the estimated fair value minus the estimated costs to sell). | ||
Asset groups to be disposed of other than by sale are classified as held and used until the asset group is disposed or use of the asset group has ceased. | ||
Income taxes | ' | |
Income taxes | ||
We use the asset and liability approach in accounting for income taxes. Under this approach, deferred income tax assets and liabilities are recognized for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. This approach also requires the recording of deferred tax assets related to operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted tax rates applicable when temporary differences and carryforwards are expected to be recovered or settled. We have not provided for U.S. income taxes on the undistributed earnings, if any, of our foreign subsidiaries, as we have specific plans for the reinvestment of such earnings. | ||
Valuation allowances are recognized to reduce deferred income tax assets to the amount that is more likely than not to be realized. In assessing the likelihood of realization, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, estimates of future taxable income, past operating results, and prudent and feasible tax planning strategies. | ||
Tax benefits related to uncertain tax positions are recorded when it is more likely than not, based on technical merits, that the position will be sustained upon examination by the relevant taxing authorities. The amount of tax benefit recognized may differ from the amount taken or expected to be taken on a tax return. These differences represent unrecognized tax benefits and are reviewed at each reporting period based on facts, circumstances and available evidence. We recognize interest and penalties accrued related to unrecognized tax benefits as a component of the income tax expense. | ||
Pension and OPEB benefit obligations | ' | |
Pension and OPEB obligations | ||
For our defined benefit plans, we recognize an asset or a liability for pension and OPEB obligations net of the fair value of plan assets. An asset is recognized for a plan’s over-funded status and a liability is recognized for a plan’s under-funded status. Changes in the funding status that have not been recognized in our net periodic benefit costs are reflected as an adjustment to our “Accumulated other comprehensive loss” in our Consolidated Balance Sheets. Net periodic benefit costs are recognized as employees render the services necessary to earn the pension and OPEB. Amounts we contribute to our defined contribution plans are expensed as incurred. | ||
Fair value measurements | ' | |
Fair value measurements | ||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date, and is based on any principal market for the specific asset or liability. We consider the risk of non-performance of the obligor, which in some cases reflects our own credit risk, in determining fair value. In accordance with FASB ASC 820, “Fair Value Measurements and Disclosures,” we categorize assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. This fair value hierarchy is as follows: | ||
Level 1 - | Valuations based on quoted prices in active markets for identical assets and liabilities. | |
Level 2 - | Valuations based on observable inputs, other than Level 1 prices, such as quoted interest or currency exchange rates. | |
Level 3 - | Valuations based on significant unobservable inputs that are supported by little or no market activity, such as discounted cash flow methodologies based on internal cash flow forecasts. | |
The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used in the determination of fair value of our assets and liabilities, when required, maximize the use of observable inputs and minimize the use of unobservable inputs. | ||
Share-based compensation | ' | |
Share-based compensation | ||
We amortize the fair value of our stock incentive awards over the requisite service period using the straight-line attribution approach. The requisite service period is reduced for those employees who are retirement eligible at the date of the grant or who will become retirement eligible during the vesting period and who will be entitled to continue vesting in their entire award upon retirement. The fair value of stock options is determined using a Black-Scholes option pricing formula, and the fair value of restricted stock units (“RSUs”) and deferred stock units (“DSUs”) is determined based on the market price of a share of our common stock on the grant date. We estimate forfeitures of stock incentive awards based on historical experience and recognize compensation cost only for those awards expected to vest. Estimated forfeitures are updated to reflect new information or actual experience, as it becomes available. | ||
Any excess tax benefits related to share-based compensation gets recorded in the additional paid-in capital (“APIC”) pool and is available to absorb future tax related deficiencies. If the amount of future tax deficiencies is greater than the available APIC pool, we would record the excess as income tax expense in our Consolidated Statements of Operations. For each of the years ended December 31, 2013, 2012 and 2011 the balance of the APIC pool was zero. | ||
Any cash flows resulting from the tax benefit that arise from the exercise of stock options and the vesting of RSUs and DSUs that exceed the compensation cost recognized (excess tax benefits) are classified as financing cash flows. | ||
Revenue recognition | ' | |
Revenue recognition | ||
Pulp, paper and wood products are delivered to our customers in the United States and Canada directly from our mills by either truck or rail. Pulp and paper products delivered to our international customers by ship are sold with international shipping terms. Revenue is recorded when risk of loss and title of the product passes to the customer. For sales with the terms free on board (“FOB”) shipping point, revenue is recorded when the product leaves the mill, whereas for sales transactions FOB destination, revenue is recorded when the product is delivered to the customer’s delivery site, when the title and risk of loss are transferred. Sales are reported net of allowances and rebates, and the following criteria must be met before they are recognized: persuasive evidence of an arrangement exists, delivery has occurred and we have no remaining obligations, prices are fixed or determinable and collectibility is reasonably assured. Sales of our other products (green power produced from renewable sources, recovered paper, wood chips and other wood related products) are recognized when the products are delivered and are included in “Cost of sales, excluding depreciation, amortization and distribution costs” in our Consolidated Statements of Operations. | ||
Net (loss) income per share | ' | |
Net (loss) income per share | ||
We calculate basic net (loss) income per share attributable to Resolute Forest Products Inc. common shareholders by dividing our net (loss) income by the weighted-average number of outstanding common shares. We calculate diluted net income per share attributable to Resolute Forest Products Inc. common shareholders by dividing our net income by the weighted-average number of outstanding common shares, as adjusted for the incremental shares attributable to the dilutive effects of potentially dilutive securities (such as stock options, RSUs and DSUs). The incremental shares are calculated using the treasury stock method (stock options, RSUs and DSUs). To calculate diluted net loss per share attributable to Resolute Forest Products Inc. common shareholders, no adjustments to our basic weighted-average number of outstanding common shares are made, since the impact of potentially dilutive securities (such as stock options, RSUs and DSUs) would be antidilutive. | ||
Translation | ' | |
Translation | ||
The functional currency of the majority of our operations is the U.S. dollar. However, some of these operations maintain their books and records in their local currency in accordance with certain statutory requirements. Non-monetary assets and liabilities of these operations and the related income and expense items such as depreciation and amortization are remeasured into U.S. dollars using historical exchange rates. Remaining assets and liabilities are remeasured into U.S. dollars using the exchange rates as of the balance sheet date. Remaining income and expense items are remeasured into U.S. dollars using an average exchange rate for the period. Gains and losses from foreign currency transactions and from remeasurement of the balance sheet are reported as “Other (expense) income, net” in our Consolidated Statements of Operations. | ||
The functional currency of all other operations is their local currency. Assets and liabilities of these operations are translated into U.S. dollars at the exchange rates in effect as of the balance sheet dates. Income and expense items are translated at average daily or monthly exchange rates for the period. The resulting translation gains or losses are recognized as a component of equity in “Accumulated other comprehensive loss.” | ||
Distribution costs | ' | |
Distribution costs | ||
Distribution costs represent costs associated with handling finished goods and shipping products to customers. Such costs are included in “Distribution costs” in our Consolidated Statements of Operations. |
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Summary of Exception in Wholly-Owned Consolidated Subsidiaries | ' | ||||||||||||||||||||||||
All consolidated subsidiaries are wholly-owned as of December 31, 2013 with the exception of the following: | |||||||||||||||||||||||||
Consolidated Subsidiary | Resolute Forest | Partner | Partner | ||||||||||||||||||||||
Products | Ownership | ||||||||||||||||||||||||
Ownership | |||||||||||||||||||||||||
Forest Products Mauricie L.P. | 93.20% | Cooperative Forestière du Haut Saint-Maurice | 6.80% | ||||||||||||||||||||||
Donohue Malbaie Inc. | 51% | NYT Capital Inc. | 49% | ||||||||||||||||||||||
Effect of Change in Accounting Policy on Consolidated Statements of Operations and Balance Sheets | ' | ||||||||||||||||||||||||
The effect of the change in accounting policy on our Consolidated Statements of Operations for the year ended December 31, 2013 was as follows: | |||||||||||||||||||||||||
(In millions, except per share amounts) | Before Accounting Policy Change | Adjustment | As | ||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | $ | 3,447 | $ | (1 | ) | $ | 3,446 | ||||||||||||||||||
Loss before income taxes | (116 | ) | 1 | (115 | ) | ||||||||||||||||||||
Income tax provision | (525 | ) | 1 | (524 | ) | ||||||||||||||||||||
Net loss including noncontrolling interests | (641 | ) | 2 | (639 | ) | ||||||||||||||||||||
Net loss attributable to Resolute Forest Products Inc. | (641 | ) | 2 | (639 | ) | ||||||||||||||||||||
Basic net loss per share attributable to Resolute Forest Products Inc. | (6.77 | ) | 0.02 | (6.75 | ) | ||||||||||||||||||||
Diluted net loss per share attributable to Resolute Forest Products Inc. | (6.77 | ) | 0.02 | (6.75 | ) | ||||||||||||||||||||
Comprehensive loss attributable to Resolute Forest Products Inc. | (298 | ) | 2 | (296 | ) | ||||||||||||||||||||
The effect of the change in accounting policy on our Consolidated Statements of Operations for the year ended December 31, 2012 was as follows: | |||||||||||||||||||||||||
(In millions, except per share amounts) | As Previously Reported | Adjustment | As | ||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | $ | 3,492 | $ | (7 | ) | $ | 3,485 | ||||||||||||||||||
Closure costs, impairment and other related charges | 180 | 5 | 185 | ||||||||||||||||||||||
Loss before income taxes | (74 | ) | 2 | (72 | ) | ||||||||||||||||||||
Income tax benefit | 38 | 1 | 39 | ||||||||||||||||||||||
Net loss including noncontrolling interests | (36 | ) | 3 | (33 | ) | ||||||||||||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | (2 | ) | 3 | 1 | |||||||||||||||||||||
Basic net (loss) income per share attributable to Resolute Forest Products Inc. | (0.02 | ) | 0.03 | 0.01 | |||||||||||||||||||||
Diluted net (loss) income per share attributable to Resolute Forest Products Inc. | (0.02 | ) | 0.03 | 0.01 | |||||||||||||||||||||
Comprehensive loss attributable to Resolute Forest Products Inc. | (321 | ) | 3 | (318 | ) | ||||||||||||||||||||
The effect of the change in accounting policy on our Consolidated Statements of Operations for the year ended December 31, 2011 was as follows: | |||||||||||||||||||||||||
(In millions, except per share amounts) | As Previously Reported | Adjustment | As | ||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | $ | 3,590 | $ | (9 | ) | $ | 3,581 | ||||||||||||||||||
Income before income taxes | 55 | 9 | 64 | ||||||||||||||||||||||
Income tax provision | (16 | ) | (3 | ) | (19 | ) | |||||||||||||||||||
Net income including noncontrolling interests | 39 | 6 | 45 | ||||||||||||||||||||||
Net income attributable to Resolute Forest Products Inc. | 41 | 6 | 47 | ||||||||||||||||||||||
Basic net income per share attributable to Resolute Forest Products Inc. | 0.42 | 0.06 | 0.48 | ||||||||||||||||||||||
Diluted net income per share attributable to Resolute Forest Products Inc. | 0.42 | 0.06 | 0.48 | ||||||||||||||||||||||
Comprehensive loss attributable to Resolute Forest Products Inc. | (262 | ) | 6 | (256 | ) | ||||||||||||||||||||
The effect of the change in accounting policy on our Consolidated Balance Sheets as of December 31, 2013 and December 31, 2012 was as follows: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(In millions) | Before Accounting Policy Change | Adjustment | As | As Previously Reported | Effect of Change | As | |||||||||||||||||||
Reported | Adjusted | ||||||||||||||||||||||||
Other current assets | $ | 33 | $ | 12 | $ | 45 | $ | 45 | $ | 11 | $ | 56 | |||||||||||||
Deferred income tax assets (non-current) | 1,267 | (1 | ) | 1,266 | 2,002 | (2 | ) | 2,000 | |||||||||||||||||
(Deficit) retained earnings | (603 | ) | 11 | (592 | ) | 38 | 9 | 47 | |||||||||||||||||
Acquisition_of_Fibrek_Inc_Tabl
Acquisition of Fibrek Inc. (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Schedule of Business Acquisition by Acquisition Fair Value of Consideration Transferred | ' | ||||||||
The following summarizes the fair value as of the acquisition date of all of the consideration transferred through May 2, 2012 to acquire our controlling interest in Fibrek: | |||||||||
(In millions) | |||||||||
Cash | $ | 36 | |||||||
Common stock issued (1.9 million shares) | 24 | ||||||||
$ | 60 | ||||||||
Summary of Allocation of Purchase Price to Fair Value of Assets Acquired and Liabilities Assumed | ' | ||||||||
The following summarizes our allocation of the purchase price to the fair value of assets acquired and liabilities assumed: | |||||||||
(In millions) | |||||||||
Cash and cash equivalents | $ | 12 | |||||||
Accounts receivable | 60 | ||||||||
Inventories | 63 | ||||||||
Other current assets | 2 | ||||||||
Current assets acquired | 137 | ||||||||
Fixed assets | 161 | ||||||||
Amortizable intangible assets | 52 | ||||||||
Other assets | 1 | ||||||||
Total assets acquired | $ | 351 | |||||||
Accounts payable and accrued liabilities | $ | 70 | |||||||
Short-term bank debt | 36 | ||||||||
Current portion of long-term debt | 2 | ||||||||
Current liabilities assumed | 108 | ||||||||
Long-term debt, net of current portion | 83 | ||||||||
Pension and other postretirement benefit obligations | 39 | ||||||||
Other long-term liabilities | 1 | ||||||||
Total liabilities assumed | $ | 231 | |||||||
Net assets acquired | 120 | ||||||||
Fair value of consideration transferred, including our previously-held interest of $58 million | 60 | ||||||||
Fair value of noncontrolling interest | 60 | ||||||||
$ | 120 | ||||||||
Pro Forma Results of Operations | ' | ||||||||
The following unaudited pro forma information for the years ended December 31, 2012 and 2011 represents our results of operations as if the acquisition of Fibrek had occurred on January 1, 2011. This pro forma information does not purport to be indicative of the results that would have occurred for the periods presented or that may be expected in the future. | |||||||||
(Unaudited, in millions except per share data) | 2012 | 2011 | |||||||
Sales | $ | 4,669 | $ | 5,300 | |||||
Net (loss) income attributable to Resolute Forest Products Inc. | (2 | ) | 53 | ||||||
Basic net (loss) income per share attributable to Resolute Forest Products Inc. | (0.02 | ) | 0.53 | ||||||
Diluted net (loss) income per share attributable to Resolute Forest Products Inc. | (0.02 | ) | 0.53 | ||||||
Amortizable_Intangible_Assets_1
Amortizable Intangible Assets, Net (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Finite-Lived Intangible Assets, Net [Abstract] | ' | |||||||||||||||||||||||||
Summary of Amortizable Intangible Assets, Net | ' | |||||||||||||||||||||||||
Amortizable intangible assets, net as of December 31, 2013 and 2012 were comprised of the following: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Estimated | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Life | Carrying | Amortization | Carrying | Amortization | ||||||||||||||||||||||
(Years) | Value | Value | ||||||||||||||||||||||||
Water rights | 10 – 40 | $ | 19 | $ | 2 | $ | 17 | $ | 19 | $ | 1 | $ | 18 | |||||||||||||
Energy contracts | 15 – 25 | 52 | 3 | 49 | 52 | 1 | 51 | |||||||||||||||||||
$ | 71 | $ | 5 | $ | 66 | $ | 71 | $ | 2 | $ | 69 | |||||||||||||||
Closure_Costs_Impairment_and_O1
Closure Costs, Impairment and Other Related Charges (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||||||
Closure Costs, Impairment and Other Related Charges | ' | ||||||||||||||||||||
Closure costs, impairment and other related charges for the year ended December 31, 2013, were comprised of the following: | |||||||||||||||||||||
(In millions) | Impairment of Assets (1) | Accelerated Depreciation | Pension Plan Curtailment Losses | Severance and Other Costs | Total | ||||||||||||||||
Indefinite idlings and extended market-related outage: | |||||||||||||||||||||
Paper machine in Calhoun, Tennessee (2) | $ | — | $ | 44 | $ | — | $ | 6 | $ | 50 | |||||||||||
Kraft mill and paper machines in Fort Frances, Ontario | — | — | 2 | 15 | 17 | ||||||||||||||||
Permanent closure: | |||||||||||||||||||||
Paper machine in Iroquois Falls, Ontario (3) | — | 2 | — | 1 | 3 | ||||||||||||||||
Restructuring initiative: | |||||||||||||||||||||
Baie-Comeau, Québec paper mill | — | — | 1 | 1 | 2 | ||||||||||||||||
Other | 11 | 4 | — | 2 | 17 | ||||||||||||||||
$ | 11 | 50 | $ | 3 | $ | 25 | $ | 89 | |||||||||||||
-1 | Due to declining market conditions, we recorded long-lived assets impairment charges related to our recycling assets to reduce the carrying value of the assets to their estimated fair value, which was determined based on estimated market prices for similar assets. | ||||||||||||||||||||
(2) | Following our acquisition of the noncontrolling interest in Calhoun Newsprint Company (“CNC”), we indefinitely idled a paper machine at the Calhoun mill on March 12, 2013, resulting in accelerated depreciation charges to reduce the carrying value of the assets to reflect their revised estimated remaining useful lives. In 2014, we began to use the machine on an intermittent basis. For additional information regarding our acquisition of the noncontrolling interest in CNC, see Note 7, “Other (Expense) Income, Net.” | ||||||||||||||||||||
(3) | In October 24, 2013, we announced the permanent closure of a paper machine in Iroquois Falls. The closure is expected to take effect within 6 months of the announcement date. | ||||||||||||||||||||
Closure costs, impairment and other related charges for the year ended December 31, 2012, were comprised of the following: | |||||||||||||||||||||
(In millions) | Impairment of Assets | Accelerated Depreciation | Pension and OPEB Plan Curtailment and Settlement Losses | Severance and Other Costs | Total | ||||||||||||||||
Indefinite idlings: | |||||||||||||||||||||
Mersey operations, Nova Scotia (1) | $ | 72 | $ | — | $ | 8 | $ | 15 | $ | 95 | |||||||||||
Kraft mill and paper machine in Fort Frances (2) | 36 | 2 | 1 | 6 | 45 | ||||||||||||||||
Paper machine in Catawba, South Carolina (2) | 1 | — | — | — | 1 | ||||||||||||||||
Permanent closure: | |||||||||||||||||||||
Paper machine in Laurentide, Québec | — | 18 | — | 4 | 22 | ||||||||||||||||
Restructuring initiatives: | |||||||||||||||||||||
Catawba paper mill | — | — | — | 4 | 4 | ||||||||||||||||
Baie-Comeau, paper mill | — | — | 3 | 1 | 4 | ||||||||||||||||
Lump-sum payments to vested terminated employees (Note 14) | — | — | 7 | — | 7 | ||||||||||||||||
Other (2) | 2 | 1 | 2 | 2 | 7 | ||||||||||||||||
$ | 111 | $ | 21 | $ | 21 | $ | 32 | $ | 185 | ||||||||||||
-1 | We recorded long-lived asset impairment charges (including a $7 million write-down of an asset retirement obligation for environmental liabilities) related to the indefinite idling and subsequent sale of our interest in our Mersey operations, to reduce the carrying value of our net assets to fair value less costs to sell. | ||||||||||||||||||||
-2 | We recorded long-lived assets impairment charges to reduce the carrying value of the assets to their estimated fair value, which was determined based on the assets’ estimated salvage values. | ||||||||||||||||||||
Closure costs, impairment and other related charges for the year ended December 31, 2011, were comprised of the following: | |||||||||||||||||||||
(In millions) | Impairment of Assets (1) | Accelerated Depreciation | Pension and OPEB Plan Curtailment Losses | Severance and Other Costs | Total | ||||||||||||||||
Permanent closures: | |||||||||||||||||||||
Paperboard production in Coosa Pines, Alabama | $ | 7 | $ | 1 | $ | 3 | $ | 3 | $ | 14 | |||||||||||
Paper machine in Kénogami, Québec | — | 3 | 2 | 5 | 10 | ||||||||||||||||
Paper machine in Baie-Comeau | — | 2 | — | — | 2 | ||||||||||||||||
Restructuring initiatives: | |||||||||||||||||||||
Mokpo, South Korea paper mill | 6 | — | — | 3 | 9 | ||||||||||||||||
Mersey operations | — | — | 3 | 3 | 6 | ||||||||||||||||
Calhoun | 3 | — | — | — | 3 | ||||||||||||||||
Other | — | 2 | — | — | 2 | ||||||||||||||||
$ | 16 | $ | 8 | $ | 8 | $ | 14 | $ | 46 | ||||||||||||
(1) | We recorded long-lived assets impairment charges to reduce the carrying value of the assets to their estimated fair value, which was determined based on the assets’ estimated sale or salvage values |
Other_Expense_Income_Net_Table
Other (Expense) Income, Net (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||
Other Income (Expense), Net | ' | ||||||||||||
for the years ended December 31, 2013, 2012 and 2011 was comprised of the following: | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
Foreign exchange (loss) gain | $ | (24 | ) | $ | 17 | $ | (21 | ) | |||||
Net (loss) gain on extinguishment of debt (Note 13) | (59 | ) | 2 | 6 | |||||||||
Post-emergence costs (1) | (1 | ) | (11 | ) | (47 | ) | |||||||
Gain on forgiveness of note payable (2) | 12 | — | — | ||||||||||
Gain on liquidation settlement (3) | 12 | — | — | ||||||||||
Income from equity method investments | 3 | 5 | 2 | ||||||||||
Interest income | 1 | 5 | 3 | ||||||||||
Miscellaneous (expense) income | (6 | ) | 4 | 9 | |||||||||
$ | (62 | ) | $ | 22 | $ | (48 | ) | ||||||
(1) | Primarily represents legal and other professional fees for the resolution and settlement of disputed creditor claims, as well as costs for other post-emergence activities associated with the Creditor Protection Proceedings. | ||||||||||||
(2) | On March 11, 2013, we acquired the noncontrolling interest in CNC, which was previously owned 51% by us and included in our consolidated financial statements on a fully consolidated basis. As a result, CNC became a wholly-owned subsidiary of ours. In connection with this transaction, we recognized a gain on the forgiveness of a $12 million note issued by CNC. The acquisition of the noncontrolling interest in CNC was accounted for as an equity transaction. | ||||||||||||
(3) | On February 2, 2010, Bridgewater Paper Company Limited (“BPCL”), a subsidiary of ours, filed for administration in the United Kingdom pursuant to the United Kingdom Insolvency Act 1986, as amended. As a result, we became a creditor of BPCL and lost control over their operations. In connection with our claims, we received a liquidation settlement of $12 million during 2013. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Accumulated Other Comprehensive Loss | ' | ||||||||||||||||
The change in our accumulated other comprehensive loss by component (net of tax) for the year ended December 31, 2013 was as follows: | |||||||||||||||||
(In millions) | Unamortized Prior Service Credits (1)(3) | Unamortized Actuarial Losses (1)(2)(4)(5) | Foreign Currency Translation | Total | |||||||||||||
Balance as of December 31, 2012 | $ | 21 | $ | (640 | ) | $ | 5 | $ | (614 | ) | |||||||
Other comprehensive income (loss) before reclassifications | 1 | 328 | (4 | ) | 325 | ||||||||||||
Amounts reclassified from accumulated other comprehensive loss (6) | (4 | ) | 22 | — | 18 | ||||||||||||
Net current period other comprehensive (loss) income | (3 | ) | 350 | (4 | ) | 343 | |||||||||||
Balance as of December 31, 2013 | $ | 18 | $ | (290 | ) | $ | 1 | $ | (271 | ) | |||||||
-1 | In 2013, following the introduction of the health insurance exchange system, we approved an amendment to our U.S. OPEB plan, whereby salaried post-65 retirees will be provided Medicare coverage via a Medicare Exchange program, effective January 1, 2014. As a result of this plan amendment, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013, were decreased by $57 million and $35 million (net of tax of $22 million), respectively, and consisted of $13 million (net of tax of $8 million ) of unamortized prior service credits and $22 million (net of tax of $14 million) of unamortized actuarial losses. | ||||||||||||||||
-2 | In 2013, we announced a workforce reduction at our Baie-Comeau paper mill, which will result in the elimination of approximately 90 positions. As a result, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013 were decreased by $8 million and $6 million (net of tax of $2 million), respectively. | ||||||||||||||||
-3 | Following the restart of our previously closed Gatineau paper mill, 119 employees were reinstated to our pension plans in 2013. As a result, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013 were increased by $18 million and $13 million (net of tax of $5 million), respectively. | ||||||||||||||||
-4 | We recorded certain adjustments associated with our previously reported pension and OPEB obligations in 2013. As a result, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013 were decreased by $27 million and $17 million (net of tax of $10 million), respectively. | ||||||||||||||||
(5) | On January 14, 2014, we announced an extended period of market-related outage at a paper mill in Fort Frances, which, if the mill remains idled, would result in the elimination of approximately 150 positions. As a result, “Pension and other postretirement benefit obligations” and “Accumulated other comprehensive loss” in our Consolidated Balance Sheet as of December 31, 2013 was decreased by $27 million and $20 million (net of tax of $7 million), respectively. | ||||||||||||||||
-6 | See the table below for details about these reclassifications. | ||||||||||||||||
Reclassifications out of accumulated other comprehensive loss | ' | ||||||||||||||||
The reclassifications out of accumulated other comprehensive loss for the year ended December 31, 2013 were comprised of the following: | |||||||||||||||||
(In millions) | Amounts Reclassified From Accumulated Other Comprehensive Loss | Affected Line in the Consolidated Statements of Operations | |||||||||||||||
Unamortized Prior Service Credits | |||||||||||||||||
Amortization and curtailments of prior service credits | $ | (3 | ) | Cost of sales, excluding depreciation, amortization and distribution costs (1) | |||||||||||||
(3 | ) | Closure costs, impairment and other related charges (1) | |||||||||||||||
2 | Income tax (provision) benefit | ||||||||||||||||
$ | (4 | ) | Net of tax | ||||||||||||||
Unamortized Actuarial Losses | |||||||||||||||||
Amortization and curtailments of actuarial losses | $ | 23 | Cost of sales, excluding depreciation, amortization and distribution costs (1) | ||||||||||||||
7 | Closure costs, impairment and other related charges (1) | ||||||||||||||||
(8 | ) | Income tax (provision) benefit | |||||||||||||||
$ | 22 | Net of tax | |||||||||||||||
Total Reclassifications | $ | 18 | Net of tax | ||||||||||||||
-1 | These items are included in the computation of net periodic benefit cost related to our pension and OPEB plans summarized in Note 14, “Pension and Other Postretirement Benefit Plans.” |
Net_Loss_Income_Per_Share_Tabl
Net (Loss) Income Per Share (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Earnings Per Share [Abstract] | ' | ||||||
Schedule of weighted-average shares | ' | ||||||
The weighted-average number of common shares outstanding used to calculate basic and diluted net (loss) income per share attributable to Resolute Forest Products Inc. common shareholders for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||
(In millions) | 2013 | 2012 | 2011 | ||||
Basic weighted-average number of common shares outstanding | 94.7 | 97.4 | 97.1 | ||||
Diluted weighted-average number of common shares outstanding | 94.7 | 97.5 | 97.1 | ||||
The weighted-average number of option shares and equity-classified RSUs and DSUs outstanding for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||
(In millions) | 2013 (1) | 2012 (2) | 2011 (2) | ||||
Option shares | 2 | 1.5 | 0.9 | ||||
RSUs and DSUs | 1 | 0.8 | 0.4 | ||||
(1) | These option shares and RSUs and DSUs were excluded from the calculation of diluted net loss per share as the impact would have been antidilutive. | ||||||
(2) | The dilutive impact of these option shares and RSUs and DSUs on the weighted-average number of common shares outstanding used to calculate diluted net income per share was nominal. |
Inventories_Net_Tables
Inventories, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Components of Inventories | ' | ||||||||
Inventories, net as of December 31, 2013 and 2012 were comprised of the following: | |||||||||
(In millions) | 2013 | 2012 | |||||||
Raw materials and work in process | $ | 153 | $ | 181 | |||||
Finished goods | 195 | 201 | |||||||
Mill stores and other supplies | 181 | 176 | |||||||
$ | 529 | $ | 558 | ||||||
Fixed_Assets_Net_Tables
Fixed Assets, Net (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Schedule of Fixed Assets, Net | ' | |||||||||
Fixed assets, net as of December 31, 2013 and 2012 were comprised of the following: | ||||||||||
(Dollars in millions) | Range of Estimated Useful Lives in Years | 2013 | 2012 | |||||||
Land and land improvements | 1 – 10 | $ | 89 | $ | 88 | |||||
Buildings | 7 – 40 | 291 | 289 | |||||||
Machinery and equipment | 3 – 40 | 2,239 | 2,090 | |||||||
Hydroelectric power plants | 10 – 40 | 286 | 283 | |||||||
Timberlands and timberlands improvements | 4 – 20 | 83 | 70 | |||||||
Construction in progress | 61 | 91 | ||||||||
3,049 | 2,911 | |||||||||
Less: Accumulated depreciation | (760 | ) | (471 | ) | ||||||
$ | 2,289 | $ | 2,440 | |||||||
Accounts_Payable_and_Accrued_L1
Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Schedule of Accounts Payable and Accrued Liabilities | ' | ||||||||
Accounts payable and accrued liabilities as of December 31, 2013 and 2012 were comprised of the following: | |||||||||
(In millions) | 2013 | 2012 | |||||||
Trade accounts payable | $ | 361 | $ | 368 | |||||
Payroll, bonuses and severance payable | 97 | 109 | |||||||
Accrued interest | 5 | 12 | |||||||
Pension and OPEB obligations | 24 | 30 | |||||||
Income and other taxes payable | 6 | 8 | |||||||
Claims payable | — | 4 | |||||||
Other | 40 | 50 | |||||||
$ | 533 | $ | 581 | ||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long Term Debt Including Current Portion | ' | ||||||||
Long-term debt, including current portion, as of December 31, 2013 and 2012, was comprised of the following: | |||||||||
(In millions) | 2013 | 2012 | |||||||
5.875% senior notes due 2023: | |||||||||
Principal amount | $ | 600 | $ | — | |||||
Unamortized discount | (5 | ) | — | ||||||
Total senior notes due 2023 | 595 | — | |||||||
10.25% senior secured notes due 2018: | |||||||||
Principal amount | — | 501 | |||||||
Unamortized premium | — | 27 | |||||||
Total senior secured notes due 2018 | — | 528 | |||||||
Other debt: | |||||||||
PSIF – Investissement Québec loan | 1 | 3 | |||||||
Capital lease obligation | 3 | 3 | |||||||
Total other debt | 4 | 6 | |||||||
Total debt | 599 | 534 | |||||||
Less: Current portion of long-term debt | (2 | ) | (2 | ) | |||||
Long-term debt, net of current portion | $ | 597 | $ | 532 | |||||
Debt Instrument Redemption | ' | ||||||||
On or after May 15, 2017, the 2023 Notes will be redeemable, in whole or in part, at redemption prices equal to a percentage of the principal amount plus accrued and unpaid interest, as follows: | |||||||||
Year (beginning May 15) | Redemption Price | ||||||||
2017 | 104.41% | ||||||||
2018 | 102.94% | ||||||||
2019 | 101.47% | ||||||||
2020 and thereafter | 100.00% |
Pension_and_Other_Postretireme1
Pension and Other Postretirement Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||
Summary of Changes in Benefit Obligations | ' | |||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||||||||||||
Benefit obligations as of beginning of year | $ | 6,724 | $ | 6,411 | $ | 424 | $ | 404 | ||||||||||||||||||||||
Service cost | 33 | 36 | 3 | 3 | ||||||||||||||||||||||||||
Interest cost | 274 | 312 | 16 | 20 | ||||||||||||||||||||||||||
Actuarial (gain) loss | (208 | ) | 488 | (79 | ) | 13 | ||||||||||||||||||||||||
Participant contributions | 18 | 15 | 5 | 5 | ||||||||||||||||||||||||||
Plan amendments | 18 | (30 | ) | (21 | ) | — | ||||||||||||||||||||||||
Curtailments and settlements | 1 | (51 | ) | — | — | |||||||||||||||||||||||||
Acquisition | — | 133 | — | 3 | ||||||||||||||||||||||||||
Divestiture | — | (239 | ) | — | (4 | ) | ||||||||||||||||||||||||
Benefits paid | (489 | ) | (506 | ) | (27 | ) | (25 | ) | ||||||||||||||||||||||
Effect of foreign currency exchange rate changes | (367 | ) | 155 | (11 | ) | 5 | ||||||||||||||||||||||||
Benefit obligations as of end of year | 6,004 | 6,724 | 310 | 424 | ||||||||||||||||||||||||||
Summary of Change in Plan Assets | ' | |||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||
Fair value of plan assets as of beginning of year | 5,175 | 5,259 | — | — | ||||||||||||||||||||||||||
Actual return on plan assets | 472 | 348 | — | — | ||||||||||||||||||||||||||
Employer contributions | 133 | 103 | 22 | 20 | ||||||||||||||||||||||||||
Participant contributions | 18 | 15 | 5 | 5 | ||||||||||||||||||||||||||
Settlements | (6 | ) | (62 | ) | — | — | ||||||||||||||||||||||||
Acquisition | — | 97 | — | — | ||||||||||||||||||||||||||
Divestiture | — | (209 | ) | — | — | |||||||||||||||||||||||||
Benefits paid | (489 | ) | (506 | ) | (27 | ) | (25 | ) | ||||||||||||||||||||||
Effect of foreign currency exchange rate changes | (290 | ) | 130 | — | — | |||||||||||||||||||||||||
Fair value of plan assets as of end of year | 5,013 | 5,175 | — | — | ||||||||||||||||||||||||||
Funded status as of end of year | $ | (991 | ) | $ | (1,549 | ) | $ | (310 | ) | $ | (424 | ) | ||||||||||||||||||
Summary of Amounts Recognized in Consolidated Balance Sheets | ' | |||||||||||||||||||||||||||||
Amounts recognized in our Consolidated Balance Sheets consisted of: | ||||||||||||||||||||||||||||||
Other assets | $ | 17 | $ | 3 | $ | — | $ | — | ||||||||||||||||||||||
Accounts payable and accrued liabilities | (3 | ) | (4 | ) | (21 | ) | (26 | ) | ||||||||||||||||||||||
Pension and OPEB obligations | (1,005 | ) | (1,548 | ) | (289 | ) | (398 | ) | ||||||||||||||||||||||
Net obligations recognized | $ | (991 | ) | $ | (1,549 | ) | $ | (310 | ) | $ | (424 | ) | ||||||||||||||||||
Components of Net Periodic Benefit Cost Relating to Pension and OPEB Plans | ' | |||||||||||||||||||||||||||||
The components of net periodic benefit cost relating to our pension and OPEB plans for the years ended December 31, 2013, 2012 and 2011 were as follows: | ||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Service cost | $ | 33 | $ | 36 | $ | 35 | $ | 3 | $ | 3 | $ | 3 | ||||||||||||||||||
Interest cost | 274 | 312 | 335 | 16 | 20 | 22 | ||||||||||||||||||||||||
Expected return on plan assets | (308 | ) | (340 | ) | (351 | ) | — | — | — | |||||||||||||||||||||
Amortization of prior service (credits) costs | (2 | ) | — | 2 | (1 | ) | — | — | ||||||||||||||||||||||
Amortization of actuarial losses (gains) | 25 | — | — | (2 | ) | — | — | |||||||||||||||||||||||
Net periodic benefit cost before special events | 22 | 8 | 21 | 16 | 23 | 25 | ||||||||||||||||||||||||
Curtailments and settlements | 3 | 21 | 5 | — | — | 3 | ||||||||||||||||||||||||
$ | 25 | $ | 29 | $ | 26 | $ | 16 | $ | 23 | $ | 28 | |||||||||||||||||||
Summary of Special Events that Impacted Net Periodic Benefit Costs as Curtailment or Settlement | ' | |||||||||||||||||||||||||||||
The following is a summary of the special events that impacted our net periodic benefit costs as a curtailment or settlement for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Settlements resulting from lump-sum payouts or plan liquidations and wind-ups | $ | — | $ | 10 | $ | 3 | $ | — | $ | — | $ | — | ||||||||||||||||||
Curtailments and settlements resulting from the closure of mills or paper machines and other mill restructurings | 3 | 11 | 2 | — | — | 3 | ||||||||||||||||||||||||
$ | 3 | $ | 21 | $ | 5 | $ | — | $ | — | $ | 3 | |||||||||||||||||||
Weighted-Average Assumptions Used to Determine Projected Benefit Obligations and Net Periodic Benefit Cost | ' | |||||||||||||||||||||||||||||
The weighted-average assumptions used to determine the benefit obligations at the measurement dates and the net periodic benefit cost for the years ended December 31, 2013, 2012 and 2011 were as follows: | ||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Benefit obligations: | ||||||||||||||||||||||||||||||
Discount rate | 4.9 | % | 4.3 | % | 4.9 | % | 5 | % | 4.2 | % | 4.9 | % | ||||||||||||||||||
Rate of compensation increase | 2.5 | % | 2.5 | % | 1.2 | % | — | — | — | |||||||||||||||||||||
Net periodic benefit cost: | ||||||||||||||||||||||||||||||
Discount rate | 4.3 | % | 4.9 | % | 5.5 | % | 4.2 | % | 4.9 | % | 5.6 | % | ||||||||||||||||||
Expected return on assets | 6.3 | % | 6.5 | % | 6.6 | % | — | — | — | |||||||||||||||||||||
Rate of compensation increase | 2.5 | % | 1.2 | % | 0.9 | % | — | — | — | |||||||||||||||||||||
Assumed Health Care Cost Trend Rates Used to Determine Benefit Obligations | ' | |||||||||||||||||||||||||||||
The assumed health care cost trend rates used to determine the benefit obligations for our domestic and foreign OPEB plans as of December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
Domestic Plans | Foreign Plans | Domestic Plans | Foreign Plans | |||||||||||||||||||||||||||
Health care cost trend rate assumed for next year | 7.5 | % | 4.4 | % | 7 | % | 4.4 | % | ||||||||||||||||||||||
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) | 4.5 | % | 3.8 | % | 4.5 | % | 2.9 | % | ||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2028 | 2033 | 2028 | 2031 | ||||||||||||||||||||||||||
Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates | ' | |||||||||||||||||||||||||||||
Variations in this health care cost trend rate can have a significant effect on the amounts reported. A 1% change in this assumption would have had the following impact on our 2013 OPEB obligation and costs for our domestic and foreign plans: | ||||||||||||||||||||||||||||||
1% Increase | 1% Decrease | |||||||||||||||||||||||||||||
(Dollars in millions) | Domestic Plans | Foreign Plans | Domestic Plans | Foreign Plans | ||||||||||||||||||||||||||
Benefit obligation | $ | 23 | 13 | % | $ | 6 | 4 | % | $ | (18 | ) | (11 | )% | $ | (5 | ) | (4 | )% | ||||||||||||
Service and interest costs | $ | 2 | 23 | % | $ | — | 6 | % | $ | (2 | ) | (18 | )% | $ | — | (5 | )% | |||||||||||||
Fair Value of Plan Assets Held by Pension Plans | ' | |||||||||||||||||||||||||||||
The fair value of plan assets held by our pension plans as of December 31, 2013 was as follows: | ||||||||||||||||||||||||||||||
(In millions) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||
U.S. companies | $ | 751 | $ | 751 | $ | — | $ | — | ||||||||||||||||||||||
Non-U.S. companies | 912 | 636 | 276 | — | ||||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||||||||
Corporate and government securities | 2,611 | 240 | 2,371 | — | ||||||||||||||||||||||||||
Asset-backed securities | 161 | — | 161 | — | ||||||||||||||||||||||||||
Bank loans/foreign annuities | 40 | — | — | 40 | ||||||||||||||||||||||||||
Real estate | 48 | — | — | 48 | ||||||||||||||||||||||||||
Cash and cash equivalents | 444 | 444 | — | — | ||||||||||||||||||||||||||
Accrued interest and dividends | 46 | — | 46 | — | ||||||||||||||||||||||||||
$ | 5,013 | $ | 2,071 | $ | 2,854 | $ | 88 | |||||||||||||||||||||||
The fair value of plan assets held by our pension plans as of December 31, 2012 was as follows: | ||||||||||||||||||||||||||||||
(In millions) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||
U.S. companies | $ | 642 | $ | 632 | $ | 10 | $ | — | ||||||||||||||||||||||
Non-U.S. companies | 847 | 571 | 276 | — | ||||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||||||||
Corporate and government securities | 3,019 | 242 | 2,777 | — | ||||||||||||||||||||||||||
Asset-backed securities | 139 | — | 139 | — | ||||||||||||||||||||||||||
Bank loans/foreign annuities | 41 | — | — | 41 | ||||||||||||||||||||||||||
Real estate | 51 | — | 5 | 46 | ||||||||||||||||||||||||||
Cash and cash equivalents | 398 | 398 | — | — | ||||||||||||||||||||||||||
Accrued interest and dividends | 38 | — | 38 | — | ||||||||||||||||||||||||||
$ | 5,175 | $ | 1,843 | $ | 3,245 | $ | 87 | |||||||||||||||||||||||
Changes in Level 3 Pension Plan Assets | ' | |||||||||||||||||||||||||||||
The changes in Level 3 pension plan assets for the years ended December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||
(In millions) | Bank Loans/Foreign | Real Estate | Total | |||||||||||||||||||||||||||
Annuities | ||||||||||||||||||||||||||||||
Balance as of December 31, 2011 | $ | 44 | $ | 39 | $ | 83 | ||||||||||||||||||||||||
Unrealized gains relating to assets held as of December 31, 2012 | — | 7 | 7 | |||||||||||||||||||||||||||
Realized gains | 1 | — | 1 | |||||||||||||||||||||||||||
Purchases | 54 | — | 54 | |||||||||||||||||||||||||||
Sales | (57 | ) | — | (57 | ) | |||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | (1 | ) | — | (1 | ) | |||||||||||||||||||||||||
Balance as of December 31, 2012 | 41 | 46 | 87 | |||||||||||||||||||||||||||
Unrealized gains relating to assets held as of December 31, 2013 | 2 | 5 | 7 | |||||||||||||||||||||||||||
Purchases | 40 | — | 40 | |||||||||||||||||||||||||||
Sales | (41 | ) | — | (41 | ) | |||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | (2 | ) | (3 | ) | (5 | ) | ||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 40 | $ | 48 | $ | 88 | ||||||||||||||||||||||||
Expected Benefit Payments and Future Contributions | ' | |||||||||||||||||||||||||||||
The following benefit payments are expected to be paid from the plans’ net assets. The OPEB plans’ benefit payments have been reduced by expected Medicare subsidy receipts associated with the Medicare Prescription Drug, Improvement and Modernization Act of 2003. | ||||||||||||||||||||||||||||||
(In millions) | Pension Plans | OPEB Plans | Expected Subsidy Receipts | |||||||||||||||||||||||||||
2014 | $ | 407 | $ | 21 | $ | 1 | ||||||||||||||||||||||||
2015 | 408 | 21 | 1 | |||||||||||||||||||||||||||
2016 | 409 | 21 | 1 | |||||||||||||||||||||||||||
2017 | 410 | 21 | 1 | |||||||||||||||||||||||||||
2018 | 409 | 20 | 1 | |||||||||||||||||||||||||||
2019- 2023 | 2,002 | 103 | 10 | |||||||||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
(Loss) Income Before Income Taxes by Taxing Jurisdiction | ' | ||||||||||||
by taxing jurisdiction for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
United States | $ | (168 | ) | $ | (34 | ) | $ | 29 | |||||
Foreign | 53 | (38 | ) | 35 | |||||||||
$ | (115 | ) | $ | (72 | ) | $ | 64 | ||||||
Income Tax Benefit (Provision) | ' | ||||||||||||
The income tax (provision) benefit for the years ended December 31, 2013, 2012 and 2011 was comprised of the following: | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
U.S. Federal and State: | |||||||||||||
Current | $ | — | $ | (2 | ) | $ | — | ||||||
Deferred | (504 | ) | 17 | (23 | ) | ||||||||
(504 | ) | 15 | (23 | ) | |||||||||
Foreign: | |||||||||||||
Current | (1 | ) | 5 | (4 | ) | ||||||||
Deferred | (19 | ) | 19 | 8 | |||||||||
(20 | ) | 24 | 4 | ||||||||||
Total: | |||||||||||||
Current | (1 | ) | 3 | (4 | ) | ||||||||
Deferred | (523 | ) | 36 | (15 | ) | ||||||||
$ | (524 | ) | $ | 39 | $ | (19 | ) | ||||||
Reconciliation of Statutory Tax Benefit (Provision) to Income Tax Benefit (Provision) | ' | ||||||||||||
The income tax (provision) benefit attributable to (loss) income before income taxes differs from the amounts computed by applying the United States federal statutory income tax rate of 35% for the years ended December 31, 2013, 2012 and 2011 as a result of the following: | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
(Loss) income before income taxes | $ | (115 | ) | $ | (72 | ) | $ | 64 | |||||
Income tax (provision) benefit: | |||||||||||||
Expected income tax benefit (provision) | 40 | 25 | (22 | ) | |||||||||
Changes resulting from: | |||||||||||||
Valuation allowance (1) | (572 | ) | (24 | ) | (15 | ) | |||||||
Reorganization-related and other tax adjustments (2) | — | 13 | (38 | ) | |||||||||
Adjustment for unrecognized tax benefits (3) | 2 | 5 | 63 | ||||||||||
Foreign exchange | (4 | ) | 10 | (9 | ) | ||||||||
Research and development tax incentives | 2 | 8 | — | ||||||||||
State income taxes, net of federal income tax benefit | 3 | 1 | (1 | ) | |||||||||
Foreign tax rate differences | 4 | 1 | 2 | ||||||||||
Other, net | 1 | — | 1 | ||||||||||
$ | (524 | ) | $ | 39 | $ | (19 | ) | ||||||
(1) | During 2013, we recorded a net increase in the valuation allowance of $572 million, mostly due to a charge of $604 million to establish a full valuation allowance against our net U.S. deferred income tax assets, partly offset by the reversal of $36 million of valuation allowance related to available U.S. capital losses, which are now expected to be utilized in the future as a result of the acquisition of the noncontrolling interest in CNC. See “Deferred income taxes” section below for a further discussion of the valuation allowance. | ||||||||||||
During 2012, the increase in the valuation allowance primarily related to costs associated with the indefinite idling of our Mersey operations prior to the sale, where we did not recognize tax benefits, as well as an increase in the valuation allowance for certain benefits in Canada and the U.S. that were expected to expire unused. Partially offsetting these increases was a release of valuation allowance related to the U.S. Fibrek operations, following an internal reorganization where the U.S. Fibrek group joined our U.S. consolidated group. | |||||||||||||
During 2011, the increase in the valuation allowance related to certain U.S. State ordinary loss carryforwards, as well as tax benefits for our Mersey operations and our Mokpo paper mill where we did not recognize deferred income tax assets. | |||||||||||||
(2) | During 2012 and 2011, we recorded reorganization-related and other tax adjustments, which represented adjustments to our previously-reported tax balance sheet accounts. We did not adjust any prior period reported amounts, as we did not believe that these adjustments were material to our previously-issued financial statements. | ||||||||||||
(3) | During 2013, 2012 and 2011, we recorded benefits for previously unrecognized tax benefits related to uncertain tax positions pursuant to FASB ASC 740, “Income Taxes,” as effectively settled upon completion of certain tax authority examinations. | ||||||||||||
Deferred Income Taxes | ' | ||||||||||||
Deferred income taxes as of December 31, 2013 and 2012 were comprised of the following: | |||||||||||||
(In millions) | 2013 | 2012 | |||||||||||
Fixed assets | $ | (236 | ) | $ | (262 | ) | |||||||
Deferred gains | (41 | ) | (40 | ) | |||||||||
Other liabilities | (54 | ) | (120 | ) | |||||||||
Deferred income tax liabilities | (331 | ) | (422 | ) | |||||||||
Fixed assets | 575 | 593 | |||||||||||
Pension and OPEB plans | 389 | 587 | |||||||||||
Ordinary loss carryforwards | 843 | 816 | |||||||||||
Capital loss carryforwards | 444 | 444 | |||||||||||
Research and development expense pool | 223 | 254 | |||||||||||
Tax credit carryforwards | 119 | 159 | |||||||||||
Other assets | 99 | 173 | |||||||||||
Deferred income tax assets | 2,692 | 3,026 | |||||||||||
Valuation allowance | (1,121 | ) | (623 | ) | |||||||||
Net deferred income tax assets | $ | 1,240 | $ | 1,981 | |||||||||
Amounts recognized in our Consolidated Balance Sheets consisted of: | |||||||||||||
Deferred income tax assets – current | $ | 32 | $ | 56 | |||||||||
Deferred income tax assets – noncurrent | 1,266 | 2,000 | |||||||||||
Deferred income tax liabilities - current | (32 | ) | — | ||||||||||
Deferred income tax liabilities – noncurrent | (26 | ) | (75 | ) | |||||||||
Net deferred income tax assets | $ | 1,240 | $ | 1,981 | |||||||||
Balance of Tax Attributes and Their Dates of Expiration | ' | ||||||||||||
The balance of tax attributes and their dates of expiration as of December 31, 2013 were as follows: | |||||||||||||
(In millions) | Related | Year of | |||||||||||
Deferred | Expiration | ||||||||||||
Income Tax | |||||||||||||
Asset | |||||||||||||
Ordinary loss carryforwards: | |||||||||||||
U.S. Federal ordinary loss carryforwards of $1,779 | $ | 623 | (1 | ) | 2021 – 2033 | ||||||||
U.S. State ordinary loss carryforwards of $1,718 | 67 | (1 | ) | 2014 – 2033 | |||||||||
Canadian Federal and provincial (excluding Québec) ordinary loss carryforwards of $436 | 72 | 2014 – 2033 | |||||||||||
Québec ordinary loss carryforwards of $639 | 61 | 2014 – 2033 | |||||||||||
Other ordinary loss carryforwards | 20 | 2019 – 2023 | |||||||||||
$ | 843 | ||||||||||||
Capital loss carryforwards: | |||||||||||||
U.S. capital loss carryforwards of $1,258 | $ | 440 | (1 | ) | 2014 | ||||||||
Canadian capital loss carryforwards of $12 | 4 | Indefinite | |||||||||||
$ | 444 | ||||||||||||
Research and development expense pool: | |||||||||||||
Canadian Federal and provincial (excluding Québec) research and development expense pool of $788 | $ | 142 | Indefinite | ||||||||||
Québec research and development expense pool of $969 | 81 | Indefinite | |||||||||||
$ | 223 | ||||||||||||
Tax credit carryforwards: | |||||||||||||
Canadian research and development tax credit carryforwards | $ | 112 | 2016 – 2033 | ||||||||||
Other Canadian tax credit carryforwards | 1 | 2014 | |||||||||||
U.S State tax credit carryforwards | 6 | (1 | ) | 2014 – 2028 | |||||||||
$ | 119 | ||||||||||||
(1) | As at December 31, 2013, a full valuation allowance was recorded on our U.S operations net deferred income tax assets. | ||||||||||||
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | ' | ||||||||||||
The following table summarizes the activity related to our gross unrecognized tax benefits for the years ended December 31, 2013 and 2012: | |||||||||||||
(In millions) | 2013 | 2012 | |||||||||||
Beginning of year | $ | 84 | $ | 109 | |||||||||
(Decrease) increase in unrecognized tax benefits resulting from: | |||||||||||||
Positions taken in a prior period | (1 | ) | (16 | ) | |||||||||
Positions taken in the current period | 4 | 44 | |||||||||||
Settlements with taxing authorities | — | (55 | ) | ||||||||||
Change in Canadian foreign exchange rate | (6 | ) | 2 | ||||||||||
End of year | $ | 81 | $ | 84 | |||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Weighted Average Assumptions | ' | |||||||||||||
In 2013 and 2012, we made grants of 692,759 and 785,885 stock options, respectively, to our non-employee directors and to certain employees using the following weighted-average assumptions: | ||||||||||||||
2013 | 2012 | |||||||||||||
Exercise price | $ | 15.66 | $ | 11.41 | ||||||||||
Fair value | $ | 7.65 | $ | 5.59 | ||||||||||
Expected dividend yield | — | — | ||||||||||||
Expected volatility | 50 | % | 50.6 | % | ||||||||||
Risk-free interest rate | 1.8 | % | 1.6 | % | ||||||||||
Expected life in years | 6.25 | 6.25 | ||||||||||||
Activity of Stock Options | ' | |||||||||||||
The activity of stock options for the year ended December 31, 2013 was as follows: | ||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | |||||||||||
Shares | Average | Average | Intrinsic | |||||||||||
Exercise | Contractual | Value | ||||||||||||
Price | Life (years) | |||||||||||||
Outstanding as of December 31, 2012 | 1,530,618 | $ | 15.46 | 9.2 | $ | — | ||||||||
Granted | 692,759 | 15.66 | ||||||||||||
Exercised | (13,301 | ) | 11.41 | |||||||||||
Forfeited | (180,773 | ) | 15.4 | |||||||||||
Outstanding as of December 31, 2013 | 2,029,303 | $ | 15.56 | 8.7 | $ | — | ||||||||
Exercisable as of December 31, 2013 | 585,928 | $ | 17.74 | 7.8 | $ | — | ||||||||
Activity of RSUs and DSUs | ' | |||||||||||||
The activity of RSUs and DSUs for the year ended December 31, 2013 was as follows: | ||||||||||||||
Number of | Weighted- | |||||||||||||
Units | Average Fair | |||||||||||||
Value at Grant | ||||||||||||||
Date | ||||||||||||||
Outstanding as of December 31, 2012 | 777,548 | $ | 13.5 | |||||||||||
Granted (1) | 504,329 | 16.15 | ||||||||||||
Vested and settled (2) | (226,305 | ) | 12.63 | |||||||||||
Forfeited | (95,121 | ) | 13.18 | |||||||||||
Outstanding as of December 31, 2013 (3) | 960,451 | $ | 15.13 | |||||||||||
(1) | Includes 32,804 DSUs to non-employee directors pursuant to the Deferred Compensation Plan. | |||||||||||||
(2) | Includes 8,149 and 3,613 awards that were vested in 2012 and 2011, respectively, but were not settled until 2013. | |||||||||||||
(3) | Includes 38,424 awards that were vested in 2013 but have not been settled and therefore remain outstanding as of December 31, 2013. |
Timberland_and_Operating_Lease1
Timberland and Operating Leases and Purchase Obligations (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Summary of Operating Leases and Commitments for Purchase Obligations | ' | ||||||||
As of December 31, 2013, the future minimum rental payments under operating leases and commitments for purchase obligations were as follows: | |||||||||
(In millions) | Purchase Obligations | Operating | |||||||
Leases | |||||||||
2014 | $ | 77 | $ | 4 | |||||
2015 | 44 | 3 | |||||||
2016 | 42 | 3 | |||||||
2017 | 35 | 2 | |||||||
2018 | 16 | 2 | |||||||
Thereafter | 49 | 9 | |||||||
$ | 263 | $ | 23 | ||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Segment Reporting Information | ' | ||||||||||||||||||||||||
Information about certain segment data for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||||||||||||||||||||
(In millions) | Newsprint | Specialty | Market | Wood | Corporate | Consolidated | |||||||||||||||||||
Papers | Pulp (1) | Products | and Other | Total | |||||||||||||||||||||
Sales | |||||||||||||||||||||||||
2013 | $ | 1,473 | $ | 1,366 | $ | 1,053 | $ | 569 | $ | — | $ | 4,461 | |||||||||||||
2012 | 1,627 | 1,562 | 814 | 500 | — | 4,503 | |||||||||||||||||||
2011 | 1,816 | 1,813 | 659 | 468 | — | 4,756 | |||||||||||||||||||
Depreciation and amortization | |||||||||||||||||||||||||
2013 | $ | 73 | $ | 77 | $ | 52 | $ | 36 | $ | 5 | $ | 243 | |||||||||||||
2012 | 72 | 83 | 44 | 34 | — | 233 | |||||||||||||||||||
2011 | 73 | 84 | 30 | 33 | — | 220 | |||||||||||||||||||
Operating income (loss) (2) | |||||||||||||||||||||||||
2013 | $ | 40 | $ | 35 | $ | 42 | $ | 41 | $ | (160 | ) | $ | (2 | ) | |||||||||||
2012 | 97 | 85 | (43 | ) | 26 | (193 | ) | (28 | ) | ||||||||||||||||
2011 | 89 | 122 | 91 | (25 | ) | (70 | ) | 207 | |||||||||||||||||
Capital expenditures | |||||||||||||||||||||||||
2013 | $ | 57 | $ | 17 | $ | 40 | $ | 31 | $ | 16 | $ | 161 | |||||||||||||
2012 | 58 | 22 | 40 | 22 | 27 | 169 | |||||||||||||||||||
2011 | 34 | 19 | 12 | 20 | 12 | 97 | |||||||||||||||||||
(1) | For the years ended December 31, 2013, 2012 and 2011, market pulp sales excluded inter-segment sales of $17 million, $36 million and $33 million, respectively. | ||||||||||||||||||||||||
(2)Corporate and other operating loss for the years ended December 31, 2013, 2012 and 2011 included the following significant items: | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Net gain on disposition of assets | $ | 2 | $ | 35 | $ | 3 | |||||||||||||||||||
Closure costs, impairment and other related charges | (89 | ) | (185 | ) | (46 | ) | |||||||||||||||||||
Inventory write-downs related to closures | (11 | ) | (12 | ) | (3 | ) | |||||||||||||||||||
Severance costs | — | (5 | ) | (12 | ) | ||||||||||||||||||||
Transaction costs | (6 | ) | (8 | ) | (5 | ) | |||||||||||||||||||
Start up costs of idled mills | (32 | ) | (13 | ) | — | ||||||||||||||||||||
$ | (136 | ) | $ | (188 | ) | $ | (63 | ) | |||||||||||||||||
Summary of Significant Items Included in Corporate and Other Operating Loss | ' | ||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Net gain on disposition of assets | $ | 2 | $ | 35 | $ | 3 | |||||||||||||||||||
Closure costs, impairment and other related charges | (89 | ) | (185 | ) | (46 | ) | |||||||||||||||||||
Inventory write-downs related to closures | (11 | ) | (12 | ) | (3 | ) | |||||||||||||||||||
Severance costs | — | (5 | ) | (12 | ) | ||||||||||||||||||||
Transaction costs | (6 | ) | (8 | ) | (5 | ) | |||||||||||||||||||
Start up costs of idled mills | (32 | ) | (13 | ) | — | ||||||||||||||||||||
$ | (136 | ) | $ | (188 | ) | $ | (63 | ) | |||||||||||||||||
Summary of Sales by Countries Based on Location of Customers | ' | ||||||||||||||||||||||||
Sales by country for the years ended December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
United States | $ | 2,834 | $ | 2,766 | $ | 2,859 | |||||||||||||||||||
Foreign countries: | |||||||||||||||||||||||||
Canada | 546 | 636 | 636 | ||||||||||||||||||||||
Mexico | 168 | 140 | 151 | ||||||||||||||||||||||
Brazil | 122 | 154 | 166 | ||||||||||||||||||||||
Italy | 85 | 105 | 106 | ||||||||||||||||||||||
India | 74 | 36 | 60 | ||||||||||||||||||||||
Korea | 65 | 84 | 88 | ||||||||||||||||||||||
Other countries | 567 | 582 | 690 | ||||||||||||||||||||||
1,627 | 1,737 | 1,897 | |||||||||||||||||||||||
$ | 4,461 | $ | 4,503 | $ | 4,756 | ||||||||||||||||||||
Summary of Long-Lived Assets, Excluding Goodwill, Intangible Assets and Deferred Tax Assets, by Country | ' | ||||||||||||||||||||||||
Long-lived assets, which exclude intangible assets and deferred income tax assets, by country, as of December 31, 2013 and 2012, were as follows: | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||||||
United States | $ | 967 | $ | 1,071 | |||||||||||||||||||||
Foreign countries: | |||||||||||||||||||||||||
Canada | 1,498 | 1,538 | |||||||||||||||||||||||
Korea | 26 | 25 | |||||||||||||||||||||||
1,524 | 1,563 | ||||||||||||||||||||||||
$ | 2,491 | $ | 2,634 | ||||||||||||||||||||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income | ' | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME | |||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Sales | $ | — | $ | 3,674 | $ | 2,956 | $ | (2,169 | ) | $ | 4,461 | ||||||||||
Costs and expenses: | |||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | — | 3,356 | 2,247 | (2,157 | ) | 3,446 | |||||||||||||||
Depreciation and amortization | — | 100 | 143 | — | 243 | ||||||||||||||||
Distribution costs | — | 172 | 357 | (8 | ) | 521 | |||||||||||||||
Selling, general and administrative expenses | 18 | 47 | 101 | — | 166 | ||||||||||||||||
Closure costs, impairment and other related charges | — | 61 | 28 | — | 89 | ||||||||||||||||
Net gain on disposition of assets | — | — | (2 | ) | — | (2 | ) | ||||||||||||||
Operating (loss) income | (18 | ) | (62 | ) | 82 | (4 | ) | (2 | ) | ||||||||||||
Interest expense | (89 | ) | (4 | ) | (8 | ) | 50 | (51 | ) | ||||||||||||
Other (expense) income, net | (60 | ) | 66 | (18 | ) | (50 | ) | (62 | ) | ||||||||||||
Parent’s equity in loss of subsidiaries | (472 | ) | — | — | 472 | — | |||||||||||||||
(Loss) income before income taxes | (639 | ) | — | 56 | 468 | (115 | ) | ||||||||||||||
Income tax provision | — | (564 | ) | (21 | ) | 61 | (524 | ) | |||||||||||||
Net (loss) income including noncontrolling interests | (639 | ) | (564 | ) | 35 | 529 | (639 | ) | |||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | ||||||||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | $ | (639 | ) | $ | (564 | ) | $ | 35 | $ | 529 | $ | (639 | ) | ||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | $ | (296 | ) | $ | (346 | ) | $ | 217 | $ | 129 | $ | (296 | ) | ||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME | |||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Sales | $ | — | $ | 3,139 | $ | 2,894 | $ | (1,530 | ) | $ | 4,503 | ||||||||||
Costs and expenses: | |||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | — | 2,774 | 2,228 | (1,517 | ) | 3,485 | |||||||||||||||
Depreciation and amortization | — | 93 | 140 | — | 233 | ||||||||||||||||
Distribution costs | — | 162 | 361 | (9 | ) | 514 | |||||||||||||||
Selling, general and administrative expenses | 18 | 56 | 75 | — | 149 | ||||||||||||||||
Closure costs, impairment and other related charges | — | 12 | 173 | — | 185 | ||||||||||||||||
Net gain on disposition of assets | — | — | (35 | ) | — | (35 | ) | ||||||||||||||
Operating (loss) income | (18 | ) | 42 | (48 | ) | (4 | ) | (28 | ) | ||||||||||||
Interest expense | (214 | ) | (13 | ) | (8 | ) | 169 | (66 | ) | ||||||||||||
Other income, net | 2 | 171 | 18 | (169 | ) | 22 | |||||||||||||||
Parent’s equity in income of subsidiaries | 147 | — | — | (147 | ) | — | |||||||||||||||
(Loss) income before income taxes | (83 | ) | 200 | (38 | ) | (151 | ) | (72 | ) | ||||||||||||
Income tax benefit (provision) | 84 | (69 | ) | 23 | 1 | 39 | |||||||||||||||
Net income (loss) including noncontrolling interests | 1 | 131 | (15 | ) | (150 | ) | (33 | ) | |||||||||||||
Net loss attributable to noncontrolling interests | — | — | 34 | — | 34 | ||||||||||||||||
Net income attributable to Resolute Forest Products Inc. | $ | 1 | $ | 131 | $ | 19 | $ | (150 | ) | $ | 1 | ||||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | $ | (318 | ) | $ | 69 | $ | (238 | ) | $ | 169 | $ | (318 | ) | ||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME | |||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Sales | $ | — | $ | 3,141 | $ | 3,154 | $ | (1,539 | ) | $ | 4,756 | ||||||||||
Costs and expenses: | |||||||||||||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | — | 2,680 | 2,440 | (1,539 | ) | 3,581 | |||||||||||||||
Depreciation and amortization | — | 90 | 130 | — | 220 | ||||||||||||||||
Distribution costs | — | 157 | 390 | — | 547 | ||||||||||||||||
Selling, general and administrative expenses | 27 | 58 | 73 | — | 158 | ||||||||||||||||
Closure costs, impairment and other related charges | — | 18 | 28 | — | 46 | ||||||||||||||||
Net gain on disposition of assets | — | (2 | ) | (1 | ) | — | (3 | ) | |||||||||||||
Operating (loss) income | (27 | ) | 140 | 94 | — | 207 | |||||||||||||||
Interest expense | (216 | ) | (7 | ) | (18 | ) | 146 | (95 | ) | ||||||||||||
Other income (expense), net | 6 | 134 | (42 | ) | (146 | ) | (48 | ) | |||||||||||||
Parent’s equity in income of subsidiaries | 199 | — | — | (199 | ) | — | |||||||||||||||
(Loss) income before income taxes | (38 | ) | 267 | 34 | (199 | ) | 64 | ||||||||||||||
Income tax benefit (provision) | 85 | (109 | ) | 5 | — | (19 | ) | ||||||||||||||
Net income including noncontrolling interests | 47 | 158 | 39 | (199 | ) | 45 | |||||||||||||||
Net loss attributable to noncontrolling interests | — | — | 2 | — | 2 | ||||||||||||||||
Net income attributable to Resolute Forest Products Inc. | $ | 47 | $ | 158 | $ | 41 | $ | (199 | ) | $ | 47 | ||||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | $ | (256 | ) | $ | 85 | $ | (188 | ) | $ | 103 | $ | (256 | ) | ||||||||
Condensed Consolidating Balance Sheet | ' | ||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 165 | $ | 157 | $ | — | $ | 322 | |||||||||||
Accounts receivable, net | — | 433 | 201 | — | 634 | ||||||||||||||||
Accounts receivable from affiliates | — | 335 | 135 | (470 | ) | — | |||||||||||||||
Inventories, net | — | 211 | 326 | (8 | ) | 529 | |||||||||||||||
Deferred income tax assets | — | — | 32 | — | 32 | ||||||||||||||||
Interest receivable from parent | — | 14 | — | (14 | ) | — | |||||||||||||||
Note receivable from affiliate | — | 350 | — | (350 | ) | — | |||||||||||||||
Note receivable from subsidiary | 13 | — | — | (13 | ) | — | |||||||||||||||
Other current assets | — | 18 | 27 | — | 45 | ||||||||||||||||
Total current assets | 13 | 1,526 | 878 | (855 | ) | 1,562 | |||||||||||||||
Fixed assets, net | — | 847 | 1,442 | — | 2,289 | ||||||||||||||||
Amortizable intangible assets, net | — | — | 66 | — | 66 | ||||||||||||||||
Deferred income tax assets | — | 28 | 1,236 | 2 | 1,266 | ||||||||||||||||
Notes receivable from parent | — | 627 | — | (627 | ) | — | |||||||||||||||
Notes receivable from affiliates | — | 170 | — | (170 | ) | — | |||||||||||||||
Investments in and advances to consolidated subsidiaries | 4,734 | 2,085 | — | (6,819 | ) | — | |||||||||||||||
Other assets | 8 | 112 | 82 | — | 202 | ||||||||||||||||
Total assets | $ | 4,755 | $ | 5,395 | $ | 3,704 | $ | (8,469 | ) | $ | 5,385 | ||||||||||
Liabilities and equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 5 | $ | 190 | $ | 338 | $ | — | $ | 533 | |||||||||||
Current portion of long-term debt | — | 1 | 1 | — | 2 | ||||||||||||||||
Accounts payable to affiliates | 352 | 118 | — | (470 | ) | — | |||||||||||||||
Deferred income tax liabilities | — | 32 | — | — | 32 | ||||||||||||||||
Interest payable to subsidiaries | 14 | — | — | (14 | ) | — | |||||||||||||||
Note payable to affiliate | — | — | 350 | (350 | ) | — | |||||||||||||||
Note payable to parent | — | — | 13 | (13 | ) | — | |||||||||||||||
Total current liabilities | 371 | 341 | 702 | (847 | ) | 567 | |||||||||||||||
Long-term debt, net of current portion | 595 | 2 | — | — | 597 | ||||||||||||||||
Long-term debt due to subsidiaries | 627 | — | — | (627 | ) | — | |||||||||||||||
Long-term debt due to affiliate | — | — | 170 | (170 | ) | — | |||||||||||||||
Pension and other postretirement benefit obligations | — | 340 | 954 | — | 1,294 | ||||||||||||||||
Deferred income tax liabilities | — | 1 | 25 | — | 26 | ||||||||||||||||
Other long-term liabilities | — | 26 | 36 | — | 62 | ||||||||||||||||
Total liabilities | 1,593 | 710 | 1,887 | (1,644 | ) | 2,546 | |||||||||||||||
Total equity | 3,162 | 4,685 | 1,817 | (6,825 | ) | 2,839 | |||||||||||||||
Total liabilities and equity | $ | 4,755 | $ | 5,395 | $ | 3,704 | $ | (8,469 | ) | $ | 5,385 | ||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 5 | $ | 171 | $ | 87 | $ | — | $ | 263 | |||||||||||
Accounts receivable, net | — | 383 | 366 | (52 | ) | 697 | |||||||||||||||
Accounts receivable from affiliates | — | 262 | 211 | (473 | ) | — | |||||||||||||||
Inventories, net | — | 225 | 337 | (4 | ) | 558 | |||||||||||||||
Deferred income tax assets | — | 11 | 45 | — | 56 | ||||||||||||||||
Notes and interest receivable from parent | — | 593 | — | (593 | ) | — | |||||||||||||||
Notes receivable from affiliates | — | 9 | 138 | (147 | ) | — | |||||||||||||||
Note receivable from a subsidiary | 41 | — | — | (41 | ) | — | |||||||||||||||
Other current assets | — | 18 | 38 | — | 56 | ||||||||||||||||
Total current assets | 46 | 1,672 | 1,222 | (1,310 | ) | 1,630 | |||||||||||||||
Fixed assets, net | — | 908 | 1,532 | — | 2,440 | ||||||||||||||||
Amortizable intangible assets, net | — | — | 69 | — | 69 | ||||||||||||||||
Deferred income tax assets | — | 594 | 1,405 | 1 | 2,000 | ||||||||||||||||
Note receivable from affiliate | — | 531 | — | (531 | ) | — | |||||||||||||||
Investments in and advances to consolidated subsidiaries | 4,859 | 2,089 | — | (6,948 | ) | — | |||||||||||||||
Other assets | — | 98 | 96 | — | 194 | ||||||||||||||||
Total assets | $ | 4,905 | $ | 5,892 | $ | 4,324 | $ | (8,788 | ) | $ | 6,333 | ||||||||||
Liabilities and equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 11 | $ | 198 | $ | 424 | $ | (52 | ) | $ | 581 | ||||||||||
Current portion of long-term debt | — | — | 2 | — | 2 | ||||||||||||||||
Accounts payable to affiliates | 336 | 135 | 2 | (473 | ) | — | |||||||||||||||
Notes and interest payable to subsidiaries | 593 | — | — | (593 | ) | — | |||||||||||||||
Notes payable to affiliates | — | 138 | 9 | (147 | ) | — | |||||||||||||||
Note payable to parent | — | — | 41 | (41 | ) | — | |||||||||||||||
Total current liabilities | 940 | 471 | 478 | (1,306 | ) | 583 | |||||||||||||||
Long-term debt, net of current portion | 528 | 3 | 1 | — | 532 | ||||||||||||||||
Long-term debt due to affiliate | — | — | 531 | (531 | ) | — | |||||||||||||||
Pension and other postretirement benefit obligations | — | 559 | 1,387 | — | 1,946 | ||||||||||||||||
Deferred income tax liabilities | — | — | 75 | — | 75 | ||||||||||||||||
Other long-term liabilities | — | 36 | 36 | — | 72 | ||||||||||||||||
Total liabilities | 1,468 | 1,069 | 2,508 | (1,837 | ) | 3,208 | |||||||||||||||
Total equity | 3,437 | 4,823 | 1,816 | (6,951 | ) | 3,125 | |||||||||||||||
Total liabilities and equity | $ | 4,905 | $ | 5,892 | $ | 4,324 | $ | (8,788 | ) | $ | 6,333 | ||||||||||
Condensed Consolidating Statement of Cash Flows | ' | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (5 | ) | $ | 41 | $ | 170 | $ | — | $ | 206 | ||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Cash invested in fixed assets | — | (55 | ) | (106 | ) | — | (161 | ) | |||||||||||||
Disposition of assets | — | — | 4 | — | 4 | ||||||||||||||||
Proceeds from insurance settlements | — | — | 4 | — | 4 | ||||||||||||||||
Decrease in restricted cash | — | — | 8 | — | 8 | ||||||||||||||||
Increase in deposit requirements for letters of credit, net | — | — | (2 | ) | — | (2 | ) | ||||||||||||||
Other investing activities, net | — | — | (4 | ) | — | (4 | ) | ||||||||||||||
Net cash used in investing activities | — | (55 | ) | (96 | ) | — | (151 | ) | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Issuance of long-term debt | 594 | — | — | — | 594 | ||||||||||||||||
Premium paid on extinguishment of debt | (84 | ) | — | — | — | (84 | ) | ||||||||||||||
Dividend to noncontrolling interest | — | — | (2 | ) | (2 | ) | |||||||||||||||
Payments of debt | (501 | ) | — | (2 | ) | — | (503 | ) | |||||||||||||
Payments of financing and credit facility fees | (9 | ) | — | — | — | (9 | ) | ||||||||||||||
Contribution of capital from noncontrolling interest | — | 8 | — | — | 8 | ||||||||||||||||
Net cash provided by (used in) financing activities | — | 8 | (4 | ) | — | 4 | |||||||||||||||
Net (decrease) increase in cash and cash equivalents | (5 | ) | (6 | ) | 70 | — | 59 | ||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||
Beginning of year | 5 | 171 | 87 | — | 263 | ||||||||||||||||
End of year | $ | — | $ | 165 | $ | 157 | $ | — | $ | 322 | |||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 249 | $ | 17 | $ | — | $ | 266 | |||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Cash invested in fixed assets | — | (42 | ) | (127 | ) | — | (169 | ) | |||||||||||||
Disposition of our interest in our Mersey operations, net of cash | — | — | 14 | — | 14 | ||||||||||||||||
Disposition of other assets | — | 1 | 35 | — | 36 | ||||||||||||||||
Acquisition of Fibrek, net of cash acquired | — | — | (24 | ) | — | (24 | ) | ||||||||||||||
Decrease in restricted cash | — | — | 76 | — | 76 | ||||||||||||||||
Increase in deposit requirements for letters of credit, net | — | — | (12 | ) | — | (12 | ) | ||||||||||||||
Advances from (to) affiliates | 72 | (56 | ) | (16 | ) | — | — | ||||||||||||||
Other investing activities, net | — | — | 4 | — | 4 | ||||||||||||||||
Net cash provided by (used in) investing activities | 72 | (97 | ) | (50 | ) | — | (75 | ) | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Purchases of treasury stock | (67 | ) | — | — | — | (67 | ) | ||||||||||||||
Dividends and distribution to noncontrolling interests | — | — | (5 | ) | — | (5 | ) | ||||||||||||||
Acquisition of noncontrolling interest | — | — | (27 | ) | — | (27 | ) | ||||||||||||||
Payments of debt | — | (109 | ) | (89 | ) | — | (198 | ) | |||||||||||||
Net cash used in financing activities | (67 | ) | (109 | ) | (121 | ) | — | (297 | ) | ||||||||||||
Net increase (decrease) in cash and cash equivalents | 5 | 43 | (154 | ) | — | (106 | ) | ||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||
Beginning of year | — | 128 | 241 | — | 369 | ||||||||||||||||
End of year | $ | 5 | $ | 171 | $ | 87 | $ | — | $ | 263 | |||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||
(In millions) | Parent | Guarantor | Non-guarantor | Consolidating | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 188 | $ | 10 | $ | — | $ | 198 | |||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Cash invested in fixed assets | — | (30 | ) | (67 | ) | — | (97 | ) | |||||||||||||
Disposition of investment in ACH | — | — | 296 | — | 296 | ||||||||||||||||
Disposition of other assets | — | 11 | 8 | — | 19 | ||||||||||||||||
Proceeds from holdback related to disposition of investment in MPCo | — | — | 29 | — | 29 | ||||||||||||||||
Proceeds from insurance settlements | — | — | 8 | — | 8 | ||||||||||||||||
Increase in restricted cash | — | — | (2 | ) | — | (2 | ) | ||||||||||||||
Increase in deposit requirements for letters of credit, net | — | — | (8 | ) | — | (8 | ) | ||||||||||||||
Advances from (to) affiliates | — | 150 | (150 | ) | — | — | |||||||||||||||
Net cash provided by investing activities | — | 131 | 114 | — | 245 | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Dividends and distribution to noncontrolling interests | — | — | (21 | ) | — | (21 | ) | ||||||||||||||
Acquisition of noncontrolling interest | — | — | (15 | ) | — | (15 | ) | ||||||||||||||
Payments of debt | — | (354 | ) | — | — | (354 | ) | ||||||||||||||
Payment of credit facility fees | — | (1 | ) | (2 | ) | — | (3 | ) | |||||||||||||
Net cash used in financing activities | — | (355 | ) | (38 | ) | — | (393 | ) | |||||||||||||
Net (decrease) increase in cash and cash equivalents | — | (36 | ) | 86 | — | 50 | |||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||
Beginning of year | — | 164 | 155 | — | 319 | ||||||||||||||||
End of year | $ | — | $ | 128 | $ | 241 | $ | — | $ | 369 | |||||||||||
Quarterly_Information_Tables
Quarterly Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Unaudited Quarterly Financial Data | ' | ||||||||||||||||||||
Year ended December 31, 2013 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Year | ||||||||||||||||
(In millions, except per share amounts) | |||||||||||||||||||||
Sales | $ | 1,074 | $ | 1,107 | $ | 1,130 | $ | 1,150 | $ | 4,461 | |||||||||||
Operating (loss) income (1) | (49 | ) | 3 | 36 | 8 | (2 | ) | ||||||||||||||
Net loss attributable to Resolute Forest Products Inc. | (5 | ) | (43 | ) | (588 | ) | (3 | ) | (639 | ) | |||||||||||
Basic net loss per share attributable to Resolute Forest Products Inc. common shareholders | (0.05 | ) | (0.45 | ) | (6.22 | ) | (0.03 | ) | (6.75 | ) | |||||||||||
Diluted net loss per share attributable to Resolute Forest Products Inc. common shareholders | (0.05 | ) | (0.45 | ) | (6.22 | ) | (0.03 | ) | (6.75 | ) | |||||||||||
Year ended December 31, 2012 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Year | ||||||||||||||||
(In millions, except per share amounts) | |||||||||||||||||||||
Sales | $ | 1,054 | $ | 1,168 | $ | 1,153 | $ | 1,128 | $ | 4,503 | |||||||||||
Operating income (loss) (2) | 31 | (32 | ) | 31 | (58 | ) | (28 | ) | |||||||||||||
Net income (loss) attributable to Resolute Forest Products Inc. | 26 | (17 | ) | 37 | (45 | ) | 1 | ||||||||||||||
Basic net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | 0.27 | (0.17 | ) | 0.38 | (0.47 | ) | 0.01 | ||||||||||||||
Diluted net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | 0.27 | (0.17 | ) | 0.38 | (0.47 | ) | 0.01 | ||||||||||||||
(1)Operating loss for the year ended December 31, 2013 included the following significant items: | |||||||||||||||||||||
(In millions) | First | Second | Third | Fourth | Year | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Net gain on disposition of assets | $ | — | $ | 2 | $ | — | $ | — | $ | 2 | |||||||||||
Closure costs, impairment and other related charges | (40 | ) | (12 | ) | (4 | ) | (33 | ) | (89 | ) | |||||||||||
Inventory write-downs related to closures | (4 | ) | (1 | ) | — | (6 | ) | (11 | ) | ||||||||||||
Transaction costs | (3 | ) | (2 | ) | — | (1 | ) | (6 | ) | ||||||||||||
Start up costs of idled mill | (15 | ) | (13 | ) | (3 | ) | (1 | ) | (32 | ) | |||||||||||
$ | (62 | ) | $ | (26 | ) | $ | (7 | ) | $ | (41 | ) | $ | (136 | ) | |||||||
(2)Operating income (loss) for the year ended December 31, 2012 included the following significant items: | |||||||||||||||||||||
(In millions) | First | Second | Third | Fourth | Year | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Net gain on disposition of assets | $ | 23 | $ | 1 | $ | 4 | $ | 7 | $ | 35 | |||||||||||
Closure costs, impairment and other related charges | (5 | ) | (88 | ) | (5 | ) | (87 | ) | (185 | ) | |||||||||||
Inventory write-downs related to closures | — | (7 | ) | — | (5 | ) | (12 | ) | |||||||||||||
Severance costs | (2 | ) | (1 | ) | — | (2 | ) | (5 | ) | ||||||||||||
Transaction costs | (4 | ) | (3 | ) | — | (1 | ) | (8 | ) | ||||||||||||
Start up costs of idled mills | — | — | (5 | ) | (8 | ) | (13 | ) | |||||||||||||
$ | 12 | $ | (98 | ) | $ | (6 | ) | $ | (96 | ) | $ | (188 | ) | ||||||||
Significant Items Included in Operating Income | ' | ||||||||||||||||||||
(1)Operating loss for the year ended December 31, 2013 included the following significant items: | |||||||||||||||||||||
(In millions) | First | Second | Third | Fourth | Year | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Net gain on disposition of assets | $ | — | $ | 2 | $ | — | $ | — | $ | 2 | |||||||||||
Closure costs, impairment and other related charges | (40 | ) | (12 | ) | (4 | ) | (33 | ) | (89 | ) | |||||||||||
Inventory write-downs related to closures | (4 | ) | (1 | ) | — | (6 | ) | (11 | ) | ||||||||||||
Transaction costs | (3 | ) | (2 | ) | — | (1 | ) | (6 | ) | ||||||||||||
Start up costs of idled mill | (15 | ) | (13 | ) | (3 | ) | (1 | ) | (32 | ) | |||||||||||
$ | (62 | ) | $ | (26 | ) | $ | (7 | ) | $ | (41 | ) | $ | (136 | ) | |||||||
(2)Operating income (loss) for the year ended December 31, 2012 included the following significant items: | |||||||||||||||||||||
(In millions) | First | Second | Third | Fourth | Year | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Net gain on disposition of assets | $ | 23 | $ | 1 | $ | 4 | $ | 7 | $ | 35 | |||||||||||
Closure costs, impairment and other related charges | (5 | ) | (88 | ) | (5 | ) | (87 | ) | (185 | ) | |||||||||||
Inventory write-downs related to closures | — | (7 | ) | — | (5 | ) | (12 | ) | |||||||||||||
Severance costs | (2 | ) | (1 | ) | — | (2 | ) | (5 | ) | ||||||||||||
Transaction costs | (4 | ) | (3 | ) | — | (1 | ) | (8 | ) | ||||||||||||
Start up costs of idled mills | — | — | (5 | ) | (8 | ) | (13 | ) | |||||||||||||
$ | 12 | $ | (98 | ) | $ | (6 | ) | $ | (96 | ) | $ | (188 | ) | ||||||||
Organization_and_Basis_of_Pres2
Organization and Basis of Presentation - Nature of Operations (Details) | Dec. 31, 2013 |
ManufacturingSites | |
Country | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Number of countries product is marketed in | 90 |
Number of operating pulp and paper mills and wood products facilities | 40 |
Organization_and_Basis_of_Pres3
Organization and Basis of Presentation - Summary of Exception in Wholly-Owned Consolidated Subsidiaries (Detail) | Dec. 31, 2013 |
Forest Products Mauricie L.P. [Member] | ' |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ' |
Resolute Forest Products Ownership | 93.20% |
Partner Ownership | 6.80% |
Donohue Malbaie Inc. [Member] | ' |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ' |
Resolute Forest Products Ownership | 51.00% |
Partner Ownership | 49.00% |
Organization_and_Basis_of_Pres4
Organization and Basis of Presentation - Change in Accounting Policy on Consolidated Statements of Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative effect of change in retained earnings due to change in accounting policy | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6,000,000 | $0 |
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 3,446,000,000 | 3,485,000,000 | 3,581,000,000 | ' |
Closure costs, impairment and other related charges | 33,000,000 | 4,000,000 | 12,000,000 | 40,000,000 | 87,000,000 | 5,000,000 | 88,000,000 | 5,000,000 | 89,000,000 | 185,000,000 | 46,000,000 | ' |
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -115,000,000 | -72,000,000 | 64,000,000 | ' |
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -524,000,000 | 39,000,000 | -19,000,000 | ' |
Net (loss) income including noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -639,000,000 | -33,000,000 | 45,000,000 | ' |
Net (loss) income attributable to Resolute Forest Products Inc. | -3,000,000 | -588,000,000 | -43,000,000 | -5,000,000 | -45,000,000 | 37,000,000 | -17,000,000 | 26,000,000 | -639,000,000 | 1,000,000 | 47,000,000 | ' |
Basic net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | ($0.03) | ($6.22) | ($0.45) | ($0.05) | ($0.47) | $0.38 | ($0.17) | $0.27 | ($6.75) | $0.01 | $0.48 | ' |
Diluted net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | ($0.03) | ($6.22) | ($0.45) | ($0.05) | ($0.47) | $0.38 | ($0.17) | $0.27 | ($6.75) | $0.01 | $0.48 | ' |
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | -296,000,000 | -318,000,000 | -256,000,000 | ' |
Cumulative effect of change on net cash provided by (used in) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Before Accounting Policy Change [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 3,447,000,000 | 3,492,000,000 | 3,590,000,000 | ' |
Closure costs, impairment and other related charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 180,000,000 | ' | ' |
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -116,000,000 | -74,000,000 | 55,000,000 | ' |
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -525,000,000 | 38,000,000 | -16,000,000 | ' |
Net (loss) income including noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -641,000,000 | -36,000,000 | 39,000,000 | ' |
Net (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | -641,000,000 | -2,000,000 | 41,000,000 | ' |
Basic net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ($6.77) | ($0.02) | $0.42 | ' |
Diluted net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ($6.77) | ($0.02) | $0.42 | ' |
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | -298,000,000 | -321,000,000 | -262,000,000 | ' |
Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | -7,000,000 | -9,000,000 | ' |
Closure costs, impairment and other related charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' |
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 2,000,000 | 9,000,000 | ' |
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,000,000 | -3,000,000 | ' |
Net (loss) income including noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 3,000,000 | 6,000,000 | ' |
Net (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 3,000,000 | 6,000,000 | ' |
Basic net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 | $0.03 | $0.06 | ' |
Diluted net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 | $0.03 | $0.06 | ' |
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | $2,000,000 | $3,000,000 | $6,000,000 | ' |
Organization_and_Basis_of_Pres5
Organization and Basis of Presentation - Change in Accounting Policy on Consolidated Balance Sheets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' |
Other current assets | $45 | $56 |
Deferred income tax assets - noncurrent | 1,266 | 2,000 |
(Deficit) retained earnings | -592 | 47 |
Before Accounting Policy Change [Member] | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' |
Other current assets | 33 | 45 |
Deferred income tax assets - noncurrent | 1,267 | 2,002 |
(Deficit) retained earnings | -603 | 38 |
Adjustment [Member] | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' |
Other current assets | 12 | 11 |
Deferred income tax assets - noncurrent | -1 | -2 |
(Deficit) retained earnings | $11 | $9 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accounting Policies [Abstract] | ' | ' | ' |
Maturity period of demand deposits and other short-term, highly liquid securities | 'P3M | 'P3M | 'P3M |
APIC pool | $0 | $0 | $0 |
Acquisition_of_Fibrek_Inc_Addi
Acquisition of Fibrek Inc - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 8 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 2-May-12 | 2-May-12 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 31, 2012 | Apr. 25, 2012 | 17-May-12 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | |
ManufacturingSites | ManufacturingSites | USD ($) | ManufacturingSites | USD ($) | CAD | USD ($) | CAD | USD ($) | USD ($) | |||||||||||||
ManufacturingSites | ||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating mills | 40 | ' | ' | ' | ' | ' | ' | ' | 40 | ' | ' | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage before acquisition date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48.80% | ' |
Ownership percentage in acquired entity, Acquisition date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.10% | 50.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Resolute Forest Products Ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 74.60% |
Remaining shares acquired, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.40% | ' | ' |
Shares issued for the acquisition of Fibrek | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.9 | 1.4 | 1.4 | 3.3 | 3.3 | ' | ' | ' | ' | ' |
Business Acquisition, cash paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $36 | ' | ' | ' | $63 | 63 | ' | ' | ' | ' | ' |
Acquisition of noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 27 | 15 | ' | ' | 27 | 27 | ' | ' | ' | ' | ' | ' | ' |
Transaction costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | 1 | ' | ' | 1 | ' | ' | ' |
Weighted - average amortization period | ' | ' | ' | ' | ' | ' | ' | ' | '23 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of sales included in Consolidated Statements of Operations | 1,150 | 1,130 | 1,107 | 1,074 | 1,128 | 1,153 | 1,168 | 1,054 | 4,461 | 4,503 | 4,756 | ' | ' | ' | ' | ' | ' | 456 | 268 | ' | ' | ' |
Amount of net income (loss) included in Consolidated Statements of Operations | -3 | -588 | -43 | -5 | -45 | 37 | -17 | 26 | -639 | 1 | 47 | ' | ' | ' | ' | ' | ' | 40 | -9 | ' | ' | ' |
Transaction costs excluded from the pro forma | ' | ' | ' | ' | ' | ' | ' | ' | ' | $19 | $7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition_of_Fibrek_Inc_Sche
Acquisition of Fibrek Inc - Schedule of Business Acquisition by Acquisition Fair Value of Consideration Transferred (Detail) | 0 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | 2-May-12 | 2-May-12 | Dec. 31, 2012 | Dec. 31, 2012 |
USD ($) | Fibrek [Member] | Fibrek [Member] | Fibrek [Member] | |
USD ($) | USD ($) | CAD | ||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Cash | ' | $36 | $63 | 63 |
Common stock issued (1.9 million shares) | ' | 24 | ' | ' |
Total fair value of the consideration transferred for the acquisition | $60 | $60 | ' | ' |
Acquisition_of_Fibrek_Inc_Sche1
Acquisition of Fibrek Inc - Schedule of Business Acquisition by Acquisition Fair Value of Consideration Transferred (Parenthetical) (Detail) (Fibrek [Member]) | 1 Months Ended | 8 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | 2-May-12 | Dec. 31, 2012 | Dec. 31, 2012 |
Fibrek [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Shares issued for the acquisition of Fibrek through May 2, 2012 | 1.9 | 1.4 | 3.3 |
Acquisition_of_Fibrek_Inc_Summ
Acquisition of Fibrek Inc - Summary of Allocation of Purchase Price to Fair Value of Assets Acquired and Liabilities Assumed (Detail) (USD $) | 0 Months Ended |
In Millions, unless otherwise specified | 2-May-12 |
Business Combinations [Abstract] | ' |
Cash and cash equivalents | $12 |
Accounts receivable | 60 |
Inventories | 63 |
Other current assets | 2 |
Current assets acquired | 137 |
Fixed assets | 161 |
Amortizable intangible assets | 52 |
Other assets | 1 |
Total assets acquired | 351 |
Accounts payable and accrued liabilities | 70 |
Short-term bank debt | 36 |
Current portion of long-term debt | 2 |
Current liabilities assumed | 108 |
Long-term debt, net of current portion | 83 |
Pension and other postretirement benefit obligations | 39 |
Other long-term liabilities | 1 |
Total liabilities assumed | 231 |
Net assets acquired | 120 |
Fair value of consideration transferred, including our previously-held interest of $58 million | 60 |
Fair value of noncontrolling interest | 60 |
Consideration total | $120 |
Acquisition_of_Fibrek_Inc_Summ1
Acquisition of Fibrek Inc - Summary of Allocation of Purchase Price to Fair Value of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) (USD $) | 0 Months Ended |
In Millions, unless otherwise specified | 2-May-12 |
Business Combinations [Abstract] | ' |
Acquisition-date fair value of previously-held equity interest in Fibrek | $58 |
Acquisition_of_Fibrek_Inc_Pro_
Acquisition of Fibrek Inc - Pro Forma Results of Operations (Detail) (Fibrek [Member], USD $) | 12 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Fibrek [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Sales | $4,669 | $5,300 |
Net (loss) income attributable to Resolute Forest Products Inc. | ($2) | $53 |
Basic net (loss) income per share attributable to Resolute Forest Products Inc. | ($0.02) | $0.53 |
Diluted net (loss) income per share attributable to Resolute Forest Products Inc. | ($0.02) | $0.53 |
Amortizable_Intangible_Assets_2
Amortizable Intangible Assets, Net - Summary of Amortizable Intangible Assets, Net (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Water rights (Member) | Water rights (Member) | Water rights (Member) | Water rights (Member) | Energy contracts (Member) | Energy contracts (Member) | Energy contracts (Member) | Energy contracts (Member) | ||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Carrying Value | $71 | $71 | $19 | $19 | ' | ' | $52 | $52 | ' | ' |
Accumulated Amortization | 5 | 2 | 2 | 1 | ' | ' | 3 | 1 | ' | ' |
Net | $66 | $69 | $17 | $18 | ' | ' | $49 | $51 | ' | ' |
Estimated Life (Years) | ' | ' | ' | ' | '10 years | '40 years | ' | ' | '15 years | '25 years |
Amortizable_Intangible_Assets_3
Amortizable Intangible Assets, Net - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets, Net [Abstract] | ' | ' | ' |
Minimum periods of agreements | '10 years | ' | ' |
Maximum periods of agreements | '25 years | ' | ' |
Amortization expense | $3 | $1 | $1 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Estimated amortization expense, Next Twelve Months | 3 | ' | ' |
Estimated amortization expense, Year Two | 3 | ' | ' |
Estimated amortization expense, Year Three | 3 | ' | ' |
Estimated amortization expense, Year Four | 3 | ' | ' |
Estimated amortization expense, Year Five | $3 | ' | ' |
Closure_Costs_Impairment_and_O2
Closure Costs, Impairment and Other Related Charges - Closure Costs, Impairment and Other Related Charges (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | $11 | [1] | $111 | $16 | [2] | |
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 50 | 21 | 8 | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 21 | 8 | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | 25 | 32 | 14 | |||
Total cost | 33 | 4 | 12 | 40 | 87 | 5 | 88 | 5 | 89 | 185 | 46 | |||
Calhoun Paper Machine [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [1],[3] | ' | ' | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 44 | [3] | ' | ' | ||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [3] | ' | ' | ||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | 6 | [3] | ' | ' | ||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | 50 | [3] | ' | ' | ||
Kraft Mill And Paper Machine [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [1] | 36 | [4] | ' | |
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 2 | [4] | ' | ||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 1 | [4] | ' | ||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | 15 | 6 | [4] | ' | ||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 45 | [4] | ' | ||
Paper Machine in Iroquois Falls [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [1],[5] | ' | ' | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 2 | [5] | ' | ' | ||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [5] | ' | ' | ||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | 1 | [5] | ' | ' | ||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | 3 | [5] | ' | ' | ||
Baie-Comeau paper mill [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [1] | 0 | ' | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 3 | ' | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 4 | ' | |||
Other Restructuring [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | 11 | [1] | 2 | [4] | 0 | [2] |
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 1 | [4] | 2 | ||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 2 | [4] | 0 | ||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | [4] | 0 | ||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 7 | [4] | 2 | ||
Mersey Operations Nova Scotia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 72 | [6] | ' | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [6] | ' | ||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | [6] | ' | ||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | [6] | ' | ||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95 | [6] | ' | ||
Catawba Paper Machine [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | [4] | ' | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [4] | ' | ||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [4] | ' | ||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [4] | ' | ||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | [4] | ' | ||
Laurentide Paper Machine [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | ' | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22 | ' | |||
Catawba paper mill [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | |||
One-time Termination Benefits [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | |||
Coosa Pines Paperboard [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | [2] | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14 | |||
Kenogami Paper Machine [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [2] | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | |||
Paper Machine In Baie Comeau [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [2] | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | |||
Mokpo Paper Mill [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | [2] | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9 | |||
Mersey operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [2] | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | |||
Calhoun [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | [2] | ||
Accelerated depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||
Pension and OPEB plan curtailment and settlement losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||
Severance and other costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||
Total cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3 | |||
[1] | Due to declining market conditions, we recorded long-lived assets impairment charges related to our recycling assets to reduce the carrying value of the assets to their estimated fair value, which was determined based on estimated market prices for similar assets. | |||||||||||||
[2] | We recorded long-lived assets impairment charges to reduce the carrying value of the assets to their estimated fair value, which was determined based on the assets’ estimated sale or salvage values. | |||||||||||||
[3] | Following our acquisition of the noncontrolling interest in Calhoun Newsprint Company (“CNCâ€), we indefinitely idled a paper machine at the Calhoun mill on March 12, 2013, resulting in accelerated depreciation charges to reduce the carrying value of the assets to reflect their revised estimated remaining useful lives. In 2014, we began to use the machine on an intermittent basis. For additional information regarding our acquisition of the noncontrolling interest in CNC, see Note 7, “Other (Expense) Income, Net.†| |||||||||||||
[4] | We recorded long-lived assets impairment charges to reduce the carrying value of the assets to their estimated fair value, which was determined based on the assets’ estimated salvage values. | |||||||||||||
[5] | In October 24, 2013, we announced the permanent closure of a paper machine in Iroquois Falls. The closure is expected to take effect within 6 months of the announcement date. | |||||||||||||
[6] | We recorded long-lived asset impairment charges (including a $7 million write-down of an asset retirement obligation for environmental liabilities) related to the indefinite idling and subsequent sale of our interest in our Mersey operations, to reduce the carrying value of our net assets to fair value less costs to sell. |
Closure_Costs_Impairment_and_O3
Closure Costs, Impairment and Other Related Charges - Closure Costs, Impairment and Other Related Charges (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Paper Machine in Iroquois Falls [Member] | Mersey operations [Member] | |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Period after announcement date closure is expected to take effect | '6 months | ' |
Write down of asset retirement obligation in long lived assets | ' | $7 |
Net_Gain_on_Disposition_of_Ass1
Net Gain on Disposition of Assets - Additional Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
parcel | parcel | ||||||||||
Gain (Loss) on Disposition of Assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Parcels of land sold | ' | ' | ' | ' | 2 | ' | ' | ' | ' | 2 | ' |
Proceeds from sale of long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | $2 | ' | ' |
Proceeds from sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55 | 315 |
Net gain on disposition of assets | $0 | $0 | $2 | $0 | $7 | $4 | $1 | $23 | $2 | $35 | $3 |
Other_Expense_Income_Net_Detai
Other (Expense) Income, Net (Detail) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Other Income and Expenses [Abstract] | ' | ' | ' | |||
Foreign exchange (loss) gain | ($24) | $17 | ($21) | |||
Net gain (loss) on extinguishment of debt | -59 | 2 | 6 | |||
Post-emergence costs | -1 | [1] | -11 | [1] | -47 | [1] |
Gain on forgiveness of note payable | 12 | [2] | 0 | [2] | 0 | [2] |
Gain on liquidation settlement | 12 | [3] | 0 | [3] | 0 | [3] |
Income from equity method investments | 3 | 5 | 2 | |||
Interest income | 1 | 5 | 3 | |||
Miscellaneous (expense) income | -6 | 4 | 9 | |||
Other income (expense), net | ($62) | $22 | ($48) | |||
[1] | Primarily represents legal and other professional fees for the resolution and settlement of disputed creditor claims, as well as costs for other post-emergence activities associated with the Creditor Protection Proceedings. | |||||
[2] | On March 11, 2013, we acquired the noncontrolling interest in CNC, which was previously owned 51% by us and included in our consolidated financial statements on a fully consolidated basis. As a result, CNC became a wholly-owned subsidiary of ours. In connection with this transaction, we recognized a gain on the forgiveness of a $12 million note issued by CNC. The acquisition of the noncontrolling interest in CNC was accounted for as an equity transaction. | |||||
[3] | On February 2, 2010, Bridgewater Paper Company Limited (“BPCLâ€), a subsidiary of ours, filed for administration in the United Kingdom pursuant to the United Kingdom Insolvency Act 1986, as amended. As a result, we became a creditor of BPCL and lost control over their operations. In connection with our claims, we received a liquidation settlement of $12 million during 2013. |
Other_Expense_Income_Net_Other
Other (Expense) Income, Net Other (Expense) Income, Net (Parenthetical) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 11, 2013 | Mar. 09, 2013 | Dec. 31, 2013 | |||
Calhoun Newsprint Company [Member] | Calhoun Newsprint Company [Member] | Bridgewater Paper Company Limited [Member] | |||||||
Other Income Expense [Line Items] | ' | ' | ' | ' | ' | ' | |||
Percentage of entity owned | ' | ' | ' | ' | 51.00% | ' | |||
Gain on forgiveness of note payable | $12 | [1] | $0 | [1] | $0 | [1] | $12 | ' | ' |
Gain on liquidation settlement | $12 | [2] | $0 | [2] | $0 | [2] | ' | ' | $12 |
[1] | On March 11, 2013, we acquired the noncontrolling interest in CNC, which was previously owned 51% by us and included in our consolidated financial statements on a fully consolidated basis. As a result, CNC became a wholly-owned subsidiary of ours. In connection with this transaction, we recognized a gain on the forgiveness of a $12 million note issued by CNC. The acquisition of the noncontrolling interest in CNC was accounted for as an equity transaction. | ||||||||
[2] | On February 2, 2010, Bridgewater Paper Company Limited (“BPCLâ€), a subsidiary of ours, filed for administration in the United Kingdom pursuant to the United Kingdom Insolvency Act 1986, as amended. As a result, we became a creditor of BPCL and lost control over their operations. In connection with our claims, we received a liquidation settlement of $12 million during 2013. |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Detail) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | |
Balance as of December 31, 2012 | ($614) | ' | ' | |
Other comprehensive income (loss) before reclassifications | 325 | ' | ' | |
Amounts reclassified from accumulated other comprehensive loss | 18 | [1] | ' | ' |
Other comprehensive income (loss), net of tax | 343 | -327 | -309 | |
Balance as of December 31, 2013 | -271 | -614 | ' | |
Unamortized Prior Service Credits | ' | ' | ' | |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | |
Balance as of December 31, 2012 | 21 | [2],[3] | ' | ' |
Other comprehensive income (loss) before reclassifications | 1 | [2],[3] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | -4 | [1],[2],[3] | ' | ' |
Other comprehensive income (loss), net of tax | -3 | [2],[3] | ' | ' |
Balance as of December 31, 2013 | 18 | [2],[3] | ' | ' |
Unamortized Actuarial Losses | ' | ' | ' | |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | |
Balance as of December 31, 2012 | -640 | [2],[4],[5],[6] | ' | ' |
Other comprehensive income (loss) before reclassifications | 328 | [2],[4],[5],[6] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 22 | [1],[2],[4],[5],[6] | ' | ' |
Other comprehensive income (loss), net of tax | 350 | [2],[4],[5],[6] | ' | ' |
Balance as of December 31, 2013 | -290 | [2],[4],[5],[6] | ' | ' |
Foreign Currency Translation | ' | ' | ' | |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | |
Balance as of December 31, 2012 | 5 | ' | ' | |
Other comprehensive income (loss) before reclassifications | -4 | ' | ' | |
Amounts reclassified from accumulated other comprehensive loss | 0 | [1] | ' | ' |
Other comprehensive income (loss), net of tax | -4 | ' | ' | |
Balance as of December 31, 2013 | $1 | ' | ' | |
[1] | See the table below for details about these reclassifications. | |||
[2] | In 2013, following the introduction of the health insurance exchange system, we approved an amendment to our U.S. OPEB plan, whereby salaried post-65 retirees will be provided Medicare coverage via a Medicare Exchange program, effective January 1, 2014. As a result of this plan amendment, “Pension and other postretirement benefit obligations†and “Accumulated other comprehensive loss†in our Consolidated Balance Sheet as of December 31, 2013, were decreased by $57 million and $35 million (net of tax of $22 million), respectively, and consisted of $13 million (net of tax of $8 million ) of unamortized prior service credits and $22 million (net of tax of $14 million) of unamortized actuarial losses. | |||
[3] | Following the restart of our previously closed Gatineau paper mill, 119 employees were reinstated to our pension plans in 2013. As a result, “Pension and other postretirement benefit obligations†and “Accumulated other comprehensive loss†in our Consolidated Balance Sheet as of December 31, 2013 were increased by $18 million and $13 million (net of tax of $5 million), respectively. | |||
[4] | In 2013, we announced a workforce reduction at our Baie-Comeau paper mill, which will result in the elimination of approximately 90 positions. As a result, “Pension and other postretirement benefit obligations†and “Accumulated other comprehensive loss†in our Consolidated Balance Sheet as of December 31, 2013 were decreased by $8 million and $6 million (net of tax of $2 million), respectively. | |||
[5] | We recorded certain adjustments associated with our previously reported pension and OPEB obligations in 2013. As a result, “Pension and other postretirement benefit obligations†and “Accumulated other comprehensive loss†in our Consolidated Balance Sheet as of December 31, 2013 were decreased by $27 million and $17 million (net of tax of $10 million), respectively. | |||
[6] | On January 14, 2014, we announced an extended period of market-related outage at a paper mill in Fort Frances, which, if the mill remains idled, would result in the elimination of approximately 150 positions. As a result, “Pension and other postretirement benefit obligations†and “Accumulated other comprehensive loss†in our Consolidated Balance Sheet as of December 31, 2013 was decreased by $27 million and $20 million (net of tax of $7 million), respectively. |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Positions | Positions | |
US OPEB For U.S. Salaried Post-65 Retirees [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Increased (decreased) pension and other postretirement benefit obligations | ($57) | ' |
Increased (decreased) accumulated other comprehensive loss | -35 | ' |
Increased (decreased) accumulated other comprehensive loss, tax benefit (expense) | -22 | ' |
US OPEB For U.S. Salaried Post-65 Retirees [Member] | Unamortized Prior Service Credits | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized prior service credits | -13 | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized prior service credits, tax benefit (expense) | -8 | ' |
US OPEB For U.S. Salaried Post-65 Retirees [Member] | Unamortized Actuarial Losses | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized actuarial losses | -22 | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized actuarial losses, tax benefit (expense) | -14 | ' |
Previously Reported Pension and OPEB Obligations [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Increased (decreased) pension and other postretirement benefit obligations | -27 | ' |
Previously Reported Pension and OPEB Obligations [Member] | Unamortized Actuarial Losses | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized actuarial losses | -17 | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized actuarial losses, tax benefit (expense) | -10 | ' |
Baie-Comeau paper mill [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Number of employees affected due to closure of mills and idling of mills and machines | 90 | 90 |
Increased (decreased) pension and other postretirement benefit obligations | -8 | ' |
Baie-Comeau paper mill [Member] | Unamortized Actuarial Losses | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized actuarial losses | -6 | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized actuarial losses, tax benefit (expense) | -2 | ' |
Gatineau Paper Mill [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Number of employees reinstated to pension plan | 119 | ' |
Increased (decreased) pension and other postretirement benefit obligations | 18 | ' |
Gatineau Paper Mill [Member] | Unamortized Prior Service Credits | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized prior service credits | 13 | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized prior service credits, tax benefit (expense) | 5 | ' |
Fort Frances Paper Mill [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Number of employees affected due to closure of mills and idling of mills and machines | 150 | ' |
Increased (decreased) pension and other postretirement benefit obligations | -27 | ' |
Fort Frances Paper Mill [Member] | Unamortized Actuarial Losses | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized actuarial losses | -20 | ' |
Increased (decreased) accumulated other comprehensive loss, unamortized actuarial losses, tax benefit (expense) | ($7) | ' |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Loss - Reclassifications Out of Accumulated Other Comprehensive Loss (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | $3,446 | $3,485 | $3,581 | |
Closure costs, impairment and other related charges | 33 | 4 | 12 | 40 | 87 | 5 | 88 | 5 | 89 | 185 | 46 | |
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -524 | 39 | -19 | |
Net loss (income), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 639 | 33 | -45 | |
Amounts Reclassified from Accumulated Other Comprehensive Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net loss (income), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 18 | ' | ' | |
Unamortized Prior Service Credits | Amounts Reclassified from Accumulated Other Comprehensive Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | -3 | ' | ' | |
Closure costs, impairment and other related charges | ' | ' | ' | ' | ' | ' | ' | ' | -3 | [1] | ' | ' |
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ' | |
Net loss (income), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -4 | ' | ' | |
Unamortized Actuarial Losses | Amounts Reclassified from Accumulated Other Comprehensive Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 23 | ' | ' | |
Closure costs, impairment and other related charges | ' | ' | ' | ' | ' | ' | ' | ' | 7 | [1] | ' | ' |
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | |
Net loss (income), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | $22 | ' | ' | |
[1] | These items are included in the computation of net periodic benefit cost related to our pension and OPEB plans summarized in Note 14, “Pension and Other Postretirement Benefit Plans.†|
Net_Loss_Income_Per_Share_Weig
Net (Loss) Income Per Share - Weighted-Average Number of Common Shares Outstanding (Detail) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Basic weighted-average number of common shares outstanding | 94.7 | 97.4 | 97.1 |
Diluted weighted-average number of common shares outstanding | 94.7 | 97.5 | 97.1 |
Net_Loss_Income_Per_Share_Addi
Net (Loss) Income Per Share - Additional Information (Detail) (USD $) | 12 Months Ended | |||||
Share data in Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | |||
Adjustments to net income attributable to Resolute Forest Products Inc. for calculation of per share amounts | $0 | $0 | $0 | |||
Stock Options [Member] | ' | ' | ' | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | |||
Number of award shares outstanding | 2 | [1] | 1.5 | [2] | 0.9 | [2] |
RSUs and DSUs [Member] | ' | ' | ' | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | |||
Number of award shares outstanding | 1 | [1] | 0.8 | [2] | 0.4 | [2] |
[1] | These option shares and RSUs and DSUs were excluded from the calculation of diluted net loss per share as the impact would have been antidilutive. | |||||
[2] | The dilutive impact of these option shares and RSUs and DSUs on the weighted-average number of common shares outstanding used to calculate diluted net income per share was nominal. |
Inventories_Net_Components_of_
Inventories, Net - Components of Inventories (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials and work in process | $153 | $181 |
Finished goods | 195 | 201 |
Mill stores and other supplies | 181 | 176 |
Inventories, net | $529 | $558 |
Inventories_Net_Additional_Inf
Inventories Net - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Inventory Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory write-downs related to closures | $6 | $0 | $1 | $4 | $5 | $0 | $7 | $0 | $11 | $12 | $3 |
Fixed_Assets_Net_Schedule_of_F
Fixed Assets, Net - Schedule of Fixed Assets, Net (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Land and land improvements [Member] | Land and land improvements [Member] | Land and land improvements [Member] | Land and land improvements [Member] | Buildings [Member] | Buildings [Member] | Buildings [Member] | Buildings [Member] | Machinery and equipment [Member] | Machinery and equipment [Member] | Machinery and equipment [Member] | Machinery and equipment [Member] | Hydroelectric power plants [Member] | Hydroelectric power plants [Member] | Hydroelectric power plants [Member] | Hydroelectric power plants [Member] | Timber and timberlands improvements [Member] | Timber and timberlands improvements [Member] | Timber and timberlands improvements [Member] | Timber and timberlands improvements [Member] | Construction in progress [Member] | Construction in progress [Member] | ||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated Useful Life | ' | ' | ' | ' | '1 year | '10 years | ' | ' | '7 years | '40 years | ' | ' | '3 years | '40 years | ' | ' | '10 years | '40 years | ' | ' | '4 years | '20 years | ' | ' |
Fixed assets, Gross | $3,049 | $2,911 | $89 | $88 | ' | ' | $291 | $289 | ' | ' | $2,239 | $2,090 | ' | ' | $286 | $283 | ' | ' | $83 | $70 | ' | ' | $61 | $91 |
Less accumulated depreciation | -760 | -471 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed assets, net | $2,289 | $2,440 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts_Payable_and_Accrued_L2
Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Payables and Accruals [Abstract] | ' | ' |
Trade accounts payable | $361 | $368 |
Payroll, bonuses and severance payable | 97 | 109 |
Accrued interest | 5 | 12 |
Pension and OPEB obligations | 24 | 30 |
Income and other taxes payable | 6 | 8 |
Claims payable | 0 | 4 |
Other | 40 | 50 |
Accounts Payable, Total | $533 | $581 |
LongTerm_Debt_Long_Term_Debt_I
Long-Term Debt - Long Term Debt Including Current Portion (Detail) (USD $) | Dec. 31, 2013 | 8-May-13 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | $599 | ' | $534 |
Less: Current portion of long-term debt | -2 | ' | -2 |
Long-term debt, net of current portion | 597 | ' | 532 |
Senior Notes Due 2023 [Member] | Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Principal amount | 600 | ' | 0 |
Unamortized (discount) premium | -5 | -6 | 0 |
Net carrying amount | 595 | ' | 0 |
Senior Secured Notes Due 2018 [Member] | Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Principal amount | 0 | ' | 501 |
Unamortized (discount) premium | 0 | ' | 27 |
Net carrying amount | 0 | ' | 528 |
Other Debt [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Capital lease obligation | 3 | ' | 3 |
Total debt | 4 | ' | 6 |
Other Debt [Member] | PSIF-Investissement Quebec [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Net carrying amount | $1 | ' | $3 |
LongTerm_Debt_LongTerm_Debt_De
Long-Term Debt Long-Term Debt - Debt Instrument Redemption (Details) (Senior Notes Due 2023 [Member], Senior Notes [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Twelve Month Period Beginning May 15, 2017 [Member] | ' |
Debt Instrument, Redemption [Line Items] | ' |
Redemption Price | 104.41% |
Twelve Month Period Beginning May 15, 2018 [Member] | ' |
Debt Instrument, Redemption [Line Items] | ' |
Redemption Price | 102.94% |
Twelve Month Period Beginning May 15, 2019 [Member] | ' |
Debt Instrument, Redemption [Line Items] | ' |
Redemption Price | 101.47% |
Twelve Month Period Beginning May 15, 2020 and Thereafter [Member] | ' |
Debt Instrument, Redemption [Line Items] | ' |
Redemption Price | 100.00% |
LongTerm_Debt_Senior_Notes_Det
Long-Term Debt - Senior Notes (Details) (USD $) | 0 Months Ended | 12 Months Ended | |||||||
Oct. 08, 2013 | 8-May-13 | Oct. 10, 2012 | Nov. 04, 2011 | Jun. 29, 2011 | Jun. 13, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Interest Rate Increase First 90 Day Period | ' | ' | ' | ' | ' | ' | '90 days | ' | ' |
Debt Instrument Interest Rate Increase Subsequent 90 Day Periods | ' | ' | ' | ' | ' | ' | '90 days | ' | ' |
Net gain (loss) on extinguishment of debt | ' | ' | ' | ' | ' | ' | ($59,000,000) | $2,000,000 | $6,000,000 |
Senior Notes Due 2023 [Member] | Senior Notes [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount | ' | 600,000,000 | ' | ' | ' | ' | ' | ' | ' |
Interest rate of notes | ' | 5.88% | ' | ' | ' | ' | ' | ' | ' |
Fair value of notes recorded | ' | 594,000,000 | ' | ' | ' | ' | ' | ' | ' |
Unamortized discount (premium) | ' | 6,000,000 | ' | ' | ' | ' | 5,000,000 | 0 | ' |
Effective interest rate of debt | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' |
Maturity date | ' | 15-May-23 | ' | ' | ' | ' | ' | ' | ' |
Redemption price as percentage of principal prior to October 15, 2014 | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Percentage of redemption of notes from proceeds of equity offerings | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' |
Redemption price as percentage of principal before October 15, 2013 from proceeds from equity offerings | ' | ' | ' | ' | ' | ' | 105.88% | ' | ' |
Redemption price percentage of the principal amount to be purchased if change in control exists | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' |
Redemption price as percentage of principal from the sale of certain assets if proceeds are not used to pay certain debt or for capital expenditures | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Agreement Date | ' | ' | ' | ' | ' | ' | 8-May-13 | ' | ' |
Maximum exchange offer period | ' | ' | ' | ' | ' | ' | '400 days | ' | ' |
Fair value of senior notes | ' | ' | ' | ' | ' | ' | 554,000,000 | ' | ' |
Deferred financing costs | ' | ' | ' | ' | ' | ' | 9,000,000 | ' | ' |
Senior Secured Notes Due 2018 [Member] | Senior Notes [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount | ' | ' | ' | ' | ' | ' | 850,000,000 | ' | ' |
Interest rate of notes | ' | ' | ' | ' | ' | ' | 10.25% | ' | ' |
Unamortized discount (premium) | ' | ' | ' | ' | ' | ' | 0 | -27,000,000 | ' |
Maturity date | ' | ' | ' | ' | ' | ' | 15-Oct-18 | ' | ' |
Proceeds from sale of ACH Limited Partnership to redeem Notes | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' |
Principal amount of debt repurchased | 5,000,000 | 496,000,000 | 85,000,000 | 85,000,000 | 85,000,000 | 94,000,000 | ' | ' | ' |
Redemption price paid, percentage of principal amount | 103.00% | ' | 103.00% | 103.00% | 103.00% | 105.00% | ' | ' | ' |
Debt instrument, Repurchase, Percentage of the principal amount outstanding | ' | 99.00% | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Repurchase, Aggregate consideration paid | ' | 584,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, Repurchase, Accrued and unpaid interest paid | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' |
Net gain (loss) on extinguishment of debt | ' | ' | ' | ' | ' | ' | -59,000,000 | 2,000,000 | 6,000,000 |
Write Off Of Unamortized Premium | ' | ' | ' | ' | ' | ' | $25,000,000 | ' | ' |
Interest Increase Triggering Event First Ninety Days [Member] | Senior Notes Due 2023 [Member] | Senior Notes [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate increase (decrease) | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' |
Interest Increase Triggering Event Subsequent Ninety Days [Member] | Senior Notes Due 2023 [Member] | Senior Notes [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate increase (decrease) | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' |
Maximum [Member] | Senior Notes Due 2023 [Member] | Senior Notes [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate increase (decrease) | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' |
LongTerm_Debt_LongTerm_Debt_AB
Long-Term Debt Long-Term Debt - ABL Credit Facility (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
Apr. 29, 2013 | Dec. 31, 2013 | Dec. 31, 2010 | Apr. 28, 2013 | |
entity | ||||
Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Number of entities entered in agreement | ' | ' | 4 | ' |
ABL credit facility commitment amount | $665,000,000 | ' | ' | $600,000,000 |
Maturity date | 28-Oct-16 | ' | ' | ' |
ABL credit facility uncommitted incremental loan borrowing capacity | 135,000,000 | ' | ' | ' |
Percentage of liquidation value of eligible inventory included in borrowing base | ' | 85.00% | ' | ' |
Percentage of eligible inventory included in borrowing base | ' | 65.00% | ' | ' |
Percentage of eligible accounts receivable included in borrowing base | ' | 85.00% | ' | ' |
Minimum fixed charge coverage ratio required if excess availability falls below certain conditions | ' | 1 | ' | ' |
Fixed charge coverage ratio: minimum excess availability | ' | 60,000,000 | ' | ' |
Fixed charge coverage criteria: Percentage of total commitments or borrowing base in effect | ' | 12.50% | ' | ' |
Amount outstanding | ' | 0 | ' | ' |
Letters of credit outstanding | ' | 39,000,000 | ' | ' |
Available borrowing capacity | ' | 561,000,000 | ' | ' |
Swingline sub-facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
ABL credit facility commitment amount | 60,000,000 | ' | ' | ' |
Letter of Credit [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
ABL credit facility commitment amount | 200,000,000 | ' | ' | ' |
US and Canadian Borrowers [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
ABL credit facility commitment amount | 465,000,000 | ' | ' | ' |
U.S. Borrowers [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
ABL credit facility commitment amount | 200,000,000 | ' | ' | ' |
Percent of capital stock in first tier foreign subsidiaries | ' | 65.00% | ' | ' |
Available borrowing capacity | ' | 345,000,000 | ' | ' |
Canadian Borrower [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Available borrowing capacity | ' | $216,000,000 | ' | ' |
Federal Fund Rate [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Interest rate margin applicable to borrowings | ' | 0.50% | ' | ' |
Agents Rate For Certificates Of Deposit [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Interest rate margin applicable to borrowings | ' | 0.50% | ' | ' |
Eurodollar [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Interest rate margin applicable to borrowings | ' | 1.00% | ' | ' |
Minimum [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Unutilized commitment fee payable under Credit Facility, per annum | ' | 0.38% | ' | ' |
Minimum [Member] | Eurodollar [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Interest rate margin applicable to borrowings | ' | 1.75% | ' | ' |
Minimum [Member] | Base Rate [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Interest rate margin applicable to borrowings | ' | 0.75% | ' | ' |
Maximum [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Unutilized commitment fee payable under Credit Facility, per annum | ' | 0.50% | ' | ' |
Maximum [Member] | Eurodollar [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Interest rate margin applicable to borrowings | ' | 2.25% | ' | ' |
Maximum [Member] | Base Rate [Member] | Revolving Credit Facility [Member] | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Interest rate margin applicable to borrowings | ' | 1.25% | ' | ' |
LongTerm_Debt_LongTerm_Debt_Ot
Long-Term Debt Long-Term Debt - Other Debt (Details) | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 23, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
USD ($) | Other Debt [Member] | PSIF-Investissement Quebec [Member] | PSIF-Investissement Quebec [Member] | PSIF-Investissement Quebec [Member] | Fibrek [Member] | |
Other Debt [Member] | Other Debt [Member] | Other Debt [Member] | USD ($) | |||
CAD | USD ($) | USD ($) | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Carrying value of assets pledged as collateral | $3,100,000,000 | ' | ' | ' | ' | ' |
Repayments of term loan and credit facility | ' | ' | ' | ' | ' | 112,000,000 |
Interest-free loan granted | ' | ' | 6,000,000 | ' | ' | ' |
Interest free loan maximum installment period | ' | ' | ' | '4 years | ' | ' |
Carrying amount | ' | ' | ' | $1,000,000 | $3,000,000 | ' |
Current interest rate for financial instruments | ' | ' | ' | 4.40% | ' | ' |
Renewal period of warehouse | ' | '20 years | ' | ' | ' | ' |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Benefit Plans - Additional Information (Detail) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
USD ($) | CAD | USD ($) | USD ($) | Quebec [Member] | Ontario Canada [Member] | Equity Securities [Member] | Equity Securities [Member] | Debt Securities [Member] | US OPEB For U.S. Salaried Post-65 Retirees [Member] | Pension Plans [Member] | OPEB Plans [Member] | US OPEB For U.S. Unionized Post-65 Active Employees [Member] | Canadian pension funding relief [Member] | Canadian pension funding relief [Member] | Canadian pension funding relief [Member] | Canadian pension funding relief [Member] | Canadian pension funding relief [Member] | Canadian pension funding relief [Member] | Gatineau Paper Mill [Member] | Plan Amendment, Collective Agreements Renewal, Canadian Mills [Member] | Fort Frances Paper Mill [Member] | Baie-Comeau paper mill [Member] | Baie-Comeau paper mill [Member] | Mersey Operations Nova Scotia [Member] | Mersey Operations Nova Scotia [Member] | Coosa Pines Paper Mill [Member] | Kenogami Paper Mill [Member] | RFP Canada Inc. [Member] | Minimum [Member] | Maximum [Member] | |
CAD | CAD | United States and Canada [Member] | USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | CAD | USD ($) | CAD | USD ($) | USD ($) | Positions | Positions | Positions | Positions | Positions | Positions | Positions | Ontario Canada [Member] | Ontario Canada [Member] | |||||||||
Employees | |||||||||||||||||||||||||||||||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense for the defined contribution plans, total | $22,000,000 | ' | $21,000,000 | $22,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Fiscal Year Focus | '2013 | '2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sum of benefit obligations for pension plans with benefit obligations in excess of plan assets | 5,079,000,000 | ' | 6,630,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sum of fair value of plan assets for pension plans with benefit obligations in excess of plan assets | 4,071,000,000 | ' | 5,078,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sum of accumulated benefit obligations for pension plans with accumulated benefit obligations in excess of plan assets | 5,014,000,000 | ' | 6,546,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sum of fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets | 4,071,000,000 | ' | 5,078,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total accumulated benefit obligations | 5,931,000,000 | ' | 6,639,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prior service cost (credit), before tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | -21,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,000,000 | -30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Actuarial gain (loss), before tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of employees reinstated to pension plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 119 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated amount that will be amortized from accumulated other comprehensive loss | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of employees affected due to closure of mills and idling of mills and machines | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150 | 90 | 90 | 176 | 97 | 137 | 130 | ' | ' | ' |
Percentage change in health care tend rates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Targeted asset allocation of plan assets | ' | ' | ' | ' | ' | ' | 50.00% | 60.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Targeted asset allocation of plan assets, debt and other securities, Minimum | ' | ' | ' | ' | ' | ' | 30.00% | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Targeted asset allocation of plan assets, debt and other securities, Maximum | ' | ' | ' | ' | ' | ' | 60.00% | ' | 70.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum percentage of short-term instruments included in targeted asset allocation of plan assets | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated 2014 contributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140,000,000 | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of the master collective agreement covering four unionized US pulp and paper mills | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of pulp and paper mills in renewed master collective agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of year to determine average of discount rate | '25 years | '25 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Specified Percentage Of Corridor To determine Discount Rate | 15.00% | 15.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Specified Percentage Of Corridor To determine Discount Rate in 2014 | 20.00% | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Specified Percentage Of Corridor To determine Discount Rate in 2015 | 25.00% | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Specified Percentage Of Corridor To determine Discount Rate after 2015 | 30.00% | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in Minimum required contribution | 23,000,000 | ' | 9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of unfunded pension obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic annual pension contribution for funding relief | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of free cash flow of additional contribution to be made, if the plans' aggregate solvency ratio falls below a specified target for a year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum additional contribution to be made, if the plans' aggregate solvency ratio falls below a target for a year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent below the annual target solvency ratio that triggers additional funding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum supplementary contribution, if the amount payable for benefits in a year exceeds a specified threshold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period to attain taget solvency ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period following emergence date for undertakings under the agreements with the provinces of Québec and Ontario | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum weighted average solvency ratio required to dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' |
Percentage of maintenance and value-creation investments | ' | ' | ' | ' | 60.00% | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum amount of investment for construction | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period covering minimum amount of investment for construction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '3 years |
Investments in strategic projects | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period covering investments in strategic projects | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capacity reduction, additional solvency deficit reduction contribution to pension plans, dollars per metric ton | ' | 75 | ' | ' | 75 | 75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capacity reduction, additional solvency deficit reduction contribution to pension plans, payment period | ' | ' | ' | ' | '4 years | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capacity reduction, additional solvency deficit reduction contribution to pension plans, duration of downtime monitoring intervals | ' | ' | ' | ' | '18 months | '18 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capacity reduction, additional solvency deficit reduction contribution to pension plans, consecutive downtime criteria | ' | ' | ' | ' | 'P6M | 'P6M | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capacity reduction, additional solvency deficit reduction contribution to pension plans, cumulative downtime criteria | ' | ' | ' | ' | '9 months | '9 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual diversification fund contribution | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period covering annual diversification fund contribution | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate value for environmental remediation | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period covering aggregate value for environmental remediation | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage change in discount rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in solvency deficit for 1% change in discount rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 490,000,000 | 520,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion of solvency deficit subject to corrective measures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 122,000,000 | 130,000,000 | 471,000,000 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revised defined benefit plan basic contribution | ' | 80,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined benefit plan accelerated contributions | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pension_and_Other_Postretireme3
Pension and Other Postretirement Benefit Plans - Summary of Changes in Benefit Obligations (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit obligations as of beginning of year | $6,724 | $6,411 | ' |
Service cost | 33 | 36 | 35 |
Interest cost | 274 | 312 | 335 |
Actuarial (gain) loss | -208 | 488 | ' |
Participant contributions | 18 | 15 | ' |
Plan amendments | 18 | -30 | ' |
Curtailments and settlements | 1 | -51 | ' |
Acquisition | 0 | 133 | ' |
Divestiture | 0 | -239 | ' |
Benefits paid | -489 | -506 | ' |
Effect of foreign currency exchange rate changes | -367 | 155 | ' |
Benefit obligations as of end of year | 6,004 | 6,724 | 6,411 |
OPEB Plans [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit obligations as of beginning of year | 424 | 404 | ' |
Service cost | 3 | 3 | 3 |
Interest cost | 16 | 20 | 22 |
Actuarial (gain) loss | -79 | 13 | ' |
Participant contributions | 5 | 5 | ' |
Plan amendments | -21 | 0 | ' |
Curtailments and settlements | 0 | 0 | ' |
Acquisition | 0 | 3 | ' |
Divestiture | 0 | -4 | ' |
Benefits paid | -27 | -25 | ' |
Effect of foreign currency exchange rate changes | -11 | 5 | ' |
Benefit obligations as of end of year | $310 | $424 | $404 |
Pension_and_Other_Postretireme4
Pension and Other Postretirement Benefit Plans - Summary of Change in Plan Assets (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value of plan assets as of end of year | $5,013 | $5,175 |
Pension Plans [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value of plan assets as of beginning of year | 5,175 | 5,259 |
Actual return on plan assets | 472 | 348 |
Employer contributions | 133 | 103 |
Participant contributions | 18 | 15 |
Settlements | -6 | -62 |
Acquisition | 0 | 97 |
Divestiture | 0 | -209 |
Benefits paid | -489 | -506 |
Effect of foreign currency exchange rate changes | -290 | 130 |
Fair value of plan assets as of end of year | 5,013 | 5,175 |
Funded status as of end of year | -991 | -1,549 |
OPEB Plans [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value of plan assets as of beginning of year | 0 | 0 |
Actual return on plan assets | 0 | 0 |
Employer contributions | 22 | 20 |
Participant contributions | 5 | 5 |
Settlements | 0 | 0 |
Acquisition | 0 | 0 |
Divestiture | 0 | 0 |
Benefits paid | -27 | -25 |
Effect of foreign currency exchange rate changes | 0 | 0 |
Fair value of plan assets as of end of year | 0 | 0 |
Funded status as of end of year | ($310) | ($424) |
Pension_and_Other_Postretireme5
Pension and Other Postretirement Benefit Plans - Summary of Amounts Recognized in our Consolidated Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Accounts payable and accrued liabilities | ($24) | ($30) |
Pension and OPEB benefit obligations | -1,294 | -1,946 |
Pension Plans [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Other assets | 17 | 3 |
Accounts payable and accrued liabilities | -3 | -4 |
Pension and OPEB benefit obligations | -1,005 | -1,548 |
Net obligations recognized | -991 | -1,549 |
OPEB Plans [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Other assets | 0 | 0 |
Accounts payable and accrued liabilities | -21 | -26 |
Pension and OPEB benefit obligations | -289 | -398 |
Net obligations recognized | ($310) | ($424) |
Pension_and_Other_Postretireme6
Pension and Other Postretirement Benefit Plans - Components of Net Periodic Benefit Cost Relating to Pension and OPEB Plans (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Curtailments and settlements | $3 | $21 | $8 |
Pension Plans [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Service cost | 33 | 36 | 35 |
Interest cost | 274 | 312 | 335 |
Expected return on plan assets | -308 | -340 | -351 |
Amortization of prior service cost (credit) | -2 | 0 | 2 |
Amortization of net actuarial loss | 25 | 0 | 0 |
Net periodic benefit cost before special events | 22 | 8 | 21 |
Curtailments and settlements | 3 | 21 | 5 |
Net periodic benefit cost | 25 | 29 | 26 |
OPEB Plans [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Service cost | 3 | 3 | 3 |
Interest cost | 16 | 20 | 22 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of prior service cost (credit) | -1 | 0 | 0 |
Amortization of net actuarial loss | -2 | 0 | 0 |
Net periodic benefit cost before special events | 16 | 23 | 25 |
Curtailments and settlements | 0 | 0 | 3 |
Net periodic benefit cost | $16 | $23 | $28 |
Pension_and_Other_Postretireme7
Pension and Other Postretirement Benefit Plans - Summary of Special Events that Impacted Net Periodic Benefit Costs as Curtailment or Settlement (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Curtailments and settlements | $3 | $21 | $8 |
Pension Plans [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Settlements resulting from lump-sum payouts or plan liquidations and wind-ups | 0 | 10 | 3 |
Curtailments and settlements resulting from the closure of mills or paper machines and other mill restructurings | 3 | 11 | 2 |
Curtailments and settlements | 3 | 21 | 5 |
OPEB Plans [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Settlements resulting from lump-sum payouts or plan liquidations and wind-ups | 0 | 0 | 0 |
Curtailments and settlements resulting from the closure of mills or paper machines and other mill restructurings | 0 | 0 | 3 |
Curtailments and settlements | $0 | $0 | $3 |
Pension_and_Other_Postretireme8
Pension and Other Postretirement Benefit Plans - Weighted-Average Assumptions Used to Determine Projected Benefit Obligations and Net Periodic Benefit Cost (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Pension Plans [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Discount rate | 4.90% | 4.30% | 4.90% |
Rate of compensation increase | 2.50% | 2.50% | 1.20% |
Discount rate | 4.30% | 4.90% | 5.50% |
Expected return on assets | 6.30% | 6.50% | 6.60% |
Rate of compensation increase | 2.50% | 1.20% | 0.90% |
OPEB Plans [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Discount rate | 5.00% | 4.20% | 4.90% |
Rate of compensation increase | 0.00% | 0.00% | 0.00% |
Discount rate | 4.20% | 4.90% | 5.60% |
Expected return on assets | 0.00% | 0.00% | 0.00% |
Rate of compensation increase | 0.00% | 0.00% | 0.00% |
Pension_and_Other_Postretireme9
Pension and Other Postretirement Benefit Plans - Assumed Health Care Cost Trend Rates Used to Determine Benefit Obligations (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Domestic Plans [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Health care cost trend rate assumed for next year | 7.50% | 7.00% |
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) | 4.50% | 4.50% |
Year that the rate reaches the ultimate trend rate | '2028 | '2028 |
Foreign Plans [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Health care cost trend rate assumed for next year | 4.40% | 4.40% |
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) | 3.80% | 2.90% |
Year that the rate reaches the ultimate trend rate | '2033 | '2031 |
Recovered_Sheet1
Pension and Other Postretirement Benefit Plans - Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Domestic Plans [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
Benefit obligation, 1% Increase | $23 |
Service and interest costs, 1% Increase | 2 |
Benefit obligation,1% Increase percentage | 13.00% |
Service and interest costs, 1% Increase percentage | 23.00% |
Benefit obligation, 1% Decrease | -18 |
Service and interest costs, 1% Decrease | -2 |
Benefit obligation, 1% Decrease percentage | -11.00% |
Service and interest costs, 1% Decrease percentage | -18.00% |
Foreign Plans [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
Benefit obligation, 1% Increase | 6 |
Service and interest costs, 1% Increase | 0 |
Benefit obligation,1% Increase percentage | 4.00% |
Service and interest costs, 1% Increase percentage | 6.00% |
Benefit obligation, 1% Decrease | -5 |
Service and interest costs, 1% Decrease | $0 |
Benefit obligation, 1% Decrease percentage | -4.00% |
Service and interest costs, 1% Decrease percentage | -5.00% |
Recovered_Sheet2
Pension and Other Postretirement Benefit Plans - Fair Value of Plan Assets Held by Pension Plans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | $5,013 | $5,175 | ' |
Level 1 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 2,071 | 1,843 | ' |
Level 2 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 2,854 | 3,245 | ' |
Level 3 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 88 | 87 | 83 |
U S Equity Securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 751 | 642 | ' |
U S Equity Securities [Member] | Level 1 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 751 | 632 | ' |
U S Equity Securities [Member] | Level 2 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 10 | ' |
U S Equity Securities [Member] | Level 3 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Foreign Equity Securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 912 | 847 | ' |
Foreign Equity Securities [Member] | Level 1 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 636 | 571 | ' |
Foreign Equity Securities [Member] | Level 2 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 276 | 276 | ' |
Foreign Equity Securities [Member] | Level 3 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Corporate and government securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 2,611 | 3,019 | ' |
Corporate and government securities [Member] | Level 1 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 240 | 242 | ' |
Corporate and government securities [Member] | Level 2 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 2,371 | 2,777 | ' |
Corporate and government securities [Member] | Level 3 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Asset-backed securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 161 | 139 | ' |
Asset-backed securities [Member] | Level 1 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Asset-backed securities [Member] | Level 2 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 161 | 139 | ' |
Asset-backed securities [Member] | Level 3 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Bank Loans/Foreign Annuities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 40 | 41 | ' |
Bank Loans/Foreign Annuities [Member] | Level 1 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Bank Loans/Foreign Annuities [Member] | Level 2 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Bank Loans/Foreign Annuities [Member] | Level 3 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 40 | 41 | 44 |
Real Estate [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 48 | 51 | ' |
Real Estate [Member] | Level 1 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Real Estate [Member] | Level 2 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 5 | ' |
Real Estate [Member] | Level 3 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 48 | 46 | 39 |
Cash and Cash Equivalents [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 444 | 398 | ' |
Cash and Cash Equivalents [Member] | Level 1 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 444 | 398 | ' |
Cash and Cash Equivalents [Member] | Level 2 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Cash and Cash Equivalents [Member] | Level 3 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Accrued Interest and Dividends [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 46 | 38 | ' |
Accrued Interest and Dividends [Member] | Level 1 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 0 | 0 | ' |
Accrued Interest and Dividends [Member] | Level 2 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | 46 | 38 | ' |
Accrued Interest and Dividends [Member] | Level 3 [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Defined benefit plan fair value of plan assets | $0 | $0 | ' |
Recovered_Sheet3
Pension and Other Postretirement Benefit Plans - Changes in Level 3 Pension Plan Assets (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value of plan assets as of end of year | $5,013 | $5,175 |
Bank Loans/Foreign Annuities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value of plan assets as of end of year | 40 | 41 |
Real Estate [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value of plan assets as of end of year | 48 | 51 |
Level 3 [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value of plan assets as of beginning of year | 87 | 83 |
Unrealized gains relating to assets held | 7 | 7 |
Realized gains (losses) | ' | 1 |
Purchases | 40 | 54 |
Sales | -41 | -57 |
Effect of foreign currency exchange rate changes | -5 | -1 |
Fair value of plan assets as of end of year | 88 | 87 |
Level 3 [Member] | Bank Loans/Foreign Annuities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value of plan assets as of beginning of year | 41 | 44 |
Unrealized gains relating to assets held | 2 | 0 |
Realized gains (losses) | ' | 1 |
Purchases | 40 | 54 |
Sales | -41 | -57 |
Effect of foreign currency exchange rate changes | -2 | -1 |
Fair value of plan assets as of end of year | 40 | 41 |
Level 3 [Member] | Real Estate [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value of plan assets as of beginning of year | 46 | 39 |
Unrealized gains relating to assets held | 5 | 7 |
Realized gains (losses) | ' | 0 |
Purchases | 0 | 0 |
Sales | 0 | 0 |
Effect of foreign currency exchange rate changes | -3 | 0 |
Fair value of plan assets as of end of year | $48 | $46 |
Recovered_Sheet4
Pension and Other Postretirement Benefit Plans - Expected Benefit Payments and Future Contributions (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
2014 Expected Subsidy Receipts | $1 |
2015 Expected Subsidy Receipts | 1 |
2016 Expected Subsidy Receipts | 1 |
2017 Expected Subsidy Receipts | 1 |
2018 Expected Subsidy Receipts | 1 |
2019 - 2023 Expected Subsidy Receipts | 10 |
Pension Plans [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
2014 | 407 |
2015 | 408 |
2016 | 409 |
2017 | 410 |
2018 | 409 |
2019 - 2023 | 2,002 |
OPEB Plans [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
2014 | 21 |
2015 | 21 |
2016 | 21 |
2017 | 21 |
2018 | 20 |
2019 - 2023 | $103 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% |
Unrecognized tax benefits that would impact the effective tax rate | $78 | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Increase (decrease) in valuation allowance | 572 | ' | ' |
Deferred income tax expense (benefit) | 523 | -36 | 15 |
Capital Loss Carryforward [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Increase (decrease) in valuation allowance | -36 | ' | ' |
Federal and State Jurisdictions [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Deferred income tax expense (benefit) | $604 | ' | ' |
Income_Taxes_Income_Loss_Befor
Income Taxes - Income (Loss) Before Income Taxes by Taxing Jurisdiction (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States | ($168) | ($34) | $29 |
Foreign | 53 | -38 | 35 |
(Loss) income before income taxes | ($115) | ($72) | $64 |
Income_Taxes_Income_Tax_Provis
Income Taxes - Income Tax (Provision) Benefit (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
U.S. Federal and State: | ' | ' | ' |
Current | $0 | ($2) | $0 |
Deferred | -504 | 17 | -23 |
U.S. Federal and State, Total | -504 | 15 | -23 |
Foreign: | ' | ' | ' |
Current | -1 | 5 | -4 |
Deferred | -19 | 19 | 8 |
Foreign, Total | -20 | 24 | 4 |
Total: | ' | ' | ' |
Current | -1 | 3 | -4 |
Deferred | -523 | 36 | -15 |
Income tax benefit (provision) | ($524) | $39 | ($19) |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Statutory Tax (Provision) Benefit to Income Tax Benefit (Provision) (Detail) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Income Tax Disclosure [Abstract] | ' | ' | ' | |||
(Loss) income before income taxes | ($115) | ($72) | $64 | |||
Income tax benefit (provision): | ' | ' | ' | |||
Expected income tax benefit (provision) | 40 | 25 | -22 | |||
Changes resulting from: | ' | ' | ' | |||
Valuation allowance | -572 | [1] | -24 | [1] | -15 | [1] |
Reorganization-related and other tax adjustments | 0 | [2] | 13 | [2] | -38 | [2] |
Adjustment for unrecognized tax benefits | 2 | [3] | 5 | [3] | 63 | [3] |
Foreign exchange | -4 | 10 | -9 | |||
Research and development tax incentives | 2 | 8 | 0 | |||
State income taxes, net of federal income tax benefit | 3 | 1 | -1 | |||
Foreign tax rate differences | 4 | 1 | 2 | |||
Other, net | 1 | 0 | 1 | |||
Income tax benefit (provision) | ($524) | $39 | ($19) | |||
[1] | During 2013, we recorded a net increase in the valuation allowance of $572 million, mostly due to a charge of $604 million to establish a full valuation allowance against our net U.S. deferred income tax assets, partly offset by the reversal of $36 million of valuation allowance related to available U.S. capital losses, which are now expected to be utilized in the future as a result of the acquisition of the noncontrolling interest in CNC. See “Deferred income taxes†section below for a further discussion of the valuation allowance.During 2012, the increase in the valuation allowance primarily related to costs associated with the indefinite idling of our Mersey operations prior to the sale, where we did not recognize tax benefits, as well as an increase in the valuation allowance for certain benefits in Canada and the U.S. that were expected to expire unused. Partially offsetting these increases was a release of valuation allowance related to the U.S. Fibrek operations, following an internal reorganization where the U.S. Fibrek group joined our U.S. consolidated group. During 2011, the increase in the valuation allowance related to certain U.S. State ordinary loss carryforwards, as well as tax benefits for our Mersey operations and our Mokpo paper mill where we did not recognize deferred income tax assets. | |||||
[2] | During 2012 and 2011, we recorded reorganization-related and other tax adjustments, which represented adjustments to our previously-reported tax balance sheet accounts. We did not adjust any prior period reported amounts, as we did not believe that these adjustments were material to our previously-issued financial statements. | |||||
[3] | During 2013, 2012 and 2011, we recorded benefits for previously unrecognized tax benefits related to uncertain tax positions pursuant to FASB ASC 740, “Income Taxes,†as effectively settled upon completion of certain tax authority examinations. |
Income_Taxes_Deferred_Income_T
Income Taxes - Deferred Income Taxes (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Fixed assets | ($236) | ($262) |
Deferred gains | -41 | -40 |
Other liabilities | -54 | -120 |
Deferred income tax liabilities | -331 | -422 |
Fixed assets | 575 | 593 |
Pension and OPEB benefit plans | 389 | 587 |
Ordinary loss carryforwards | 843 | 816 |
Capital loss carryforwards | 444 | 444 |
Research and development expense pool | 223 | 254 |
Tax credit carryforwards | 119 | 159 |
Other assets | 99 | 173 |
Deferred income tax assets | 2,692 | 3,026 |
Valuation allowance | -1,121 | -623 |
Net deferred income tax assets | 1,240 | 1,981 |
Amounts recognized in our Consolidated Balance Sheets consisted of: | ' | ' |
Deferred income tax assets - current | 32 | 56 |
Deferred income tax assets - noncurrent | 1,266 | 2,000 |
Deferred income tax liabilities - current | -32 | 0 |
Deferred income tax liabilities - noncurrent | -26 | -75 |
Net deferred income tax assets | $1,240 | $1,981 |
Income_Taxes_Balance_of_Tax_At
Income Taxes - Balance of Tax Attributes and Their Dates of Expiration (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | $843 | $816 | |
Capital loss carryforwards | 444 | 444 | |
Research and development expense pool | 223 | 254 | |
Tax credit carryforwards | 119 | 159 | |
U.S. Federal [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | 623 | [1] | ' |
Capital loss carryforwards | 440 | [1] | ' |
State and Local Jurisdiction [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | 67 | [1] | ' |
Tax credit carryforwards | 6 | [1] | ' |
Canada Federal and Non-Quebec [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | 72 | ' | |
Research and development expense pool | 142 | ' | |
Quebec [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | 61 | ' | |
Research and development expense pool | 81 | ' | |
Other Loss Carryforwards [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | 20 | ' | |
Canada [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Capital loss carryforwards | 4 | ' | |
Tax credit carryforwards | 112 | ' | |
Other Canadian [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Tax credit carryforwards | $1 | ' | |
[1] | As at December 31, 2013, a full valuation allowance was recorded on our U.S operations net deferred income tax assets. |
Income_Taxes_Balance_of_Tax_At1
Income Taxes - Balance of Tax Attributes and Their Dates of Expiration (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | $843 | $816 | |
U.S. Federal [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | 623 | [1] | ' |
Operating loss carryforwards | 1,779 | ' | |
Capital loss carryforwards | 1,258 | ' | |
State and Local Jurisdiction [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | 67 | [1] | ' |
Operating loss carryforwards | 1,718 | ' | |
Canada Federal and Non-Quebec [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | 72 | ' | |
Operating loss carryforwards | 436 | ' | |
Research and development expense pool | 788 | ' | |
Canada [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Capital loss carryforwards | 12 | ' | |
Quebec [Member] | ' | ' | |
Significant Tax Attributes And Dates Of Expiration [Line Items] | ' | ' | |
Ordinary loss carryforwards | 61 | ' | |
Operating loss carryforwards | 639 | ' | |
Research and development expense pool | $969 | ' | |
[1] | As at December 31, 2013, a full valuation allowance was recorded on our U.S operations net deferred income tax assets. |
Income_Taxes_Reconciliation_of1
Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Unrecognized Tax Benefits | ' | ' |
Beginning of year | $84 | $109 |
(Decrease) increase in unrecognized tax benefits resulting from: | ' | ' |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | -1 | -16 |
Positions taken in the current period | 4 | 44 |
Settlements with taxing authorities | 0 | -55 |
Change in Canadian foreign exchange rate | -6 | 2 |
End of year | $81 | $84 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) | 12 Months Ended | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jul. 31, 2012 | |
USD ($) | CAD | USD ($) | Fibrek [Member] | Fibrek [Member] | |
site | USD ($) | ||||
Commitments And Contingencies [Line Items] | ' | ' | ' | ' | ' |
Percentage of outstanding shares | ' | ' | ' | ' | 25.40% |
Contingent consideration paid | ' | ' | ' | $0 | ' |
Remaining consideration to be distributed | 13,000,000 | 14,000,000 | ' | ' | ' |
Maximum deficit from partial wind up of pension plans to be funded | 141,000,000 | 150,000,000 | ' | ' | ' |
Number of hazardous waste sites | 4 | 4 | ' | ' | ' |
Environmental liabilities | $9,000,000 | ' | $4,000,000 | ' | ' |
Share_Capital_Additional_Infor
Share Capital - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||
22-May-12 | Dec. 09, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 31, 2012 | |
Fibrek [Member] | ||||||
Equity [Line Items] | ' | ' | ' | ' | ' | ' |
Capital stock shares authorized | ' | ' | 200,000,000 | ' | ' | ' |
Common stock, shares authorized | ' | ' | 190,000,000 | ' | ' | ' |
Common stock, par value | ' | ' | $0.00 | $0.00 | ' | ' |
Preferred stock, shares authorized | ' | ' | 10,000,000 | ' | ' | ' |
Preferred stock, par value | ' | ' | $0.00 | ' | ' | ' |
Preferred stock, shares issued | ' | ' | 0 | 0 | ' | ' |
Preferred stock, shares outstanding | ' | ' | 0 | 0 | ' | ' |
Common shares issued on emergence date | ' | 97,134,954 | ' | ' | ' | ' |
Common stock, shares reserved for equity incentives | ' | 9,020,960 | ' | ' | ' | ' |
Shares distributed to the holders of unsecured claims | ' | ' | 3,693,601 | 15,702,418 | 77,415,389 | ' |
Debtor Protection Proceedings, Shares Transferred To Treasury Stock, Chapter 11 Reorganization Plan | ' | ' | 276,662 | ' | ' | ' |
Debtor Protection Proceedings, Shares Transferred To Treasury Stock, CCAA Reorganization Plan | ' | ' | 46,884 | ' | ' | ' |
Percentage of shares of common stock authorized to be repurchased | 10.00% | ' | ' | ' | ' | ' |
Aggregate purchase price of common stock | $100,000,000 | ' | ' | ' | ' | ' |
Repurchase of treasury stock, shares | ' | ' | ' | 5,610,152 | ' | ' |
Cost of common stock repurchased | ' | ' | ' | 67,000,000 | ' | ' |
Distribution of treasury stock as a part of second step transaction | ' | ' | ' | ' | ' | 503,054 |
Excess shares in disputed claim share reserve transferred to treasury stock | ' | ' | 323,546 | ' | ' | ' |
Common stock dividends declared and paid | ' | ' | $0 | $0 | $0 | ' |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Share-based compensation expense | $8,000,000 | $5,000,000 | $3,000,000 | |
Tax benefit from share-based compensation expense | 0 | 1,000,000 | 1,000,000 | |
Share-based compensation awards granted | 692,759 | 785,885 | ' | |
Expected dividend yield | 0.00% | 0.00% | ' | |
Stock Options [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Vesting period to meet certain retirement eligibility criteria | '4 years | ' | ' | |
Expiration period from the grant date for stock options | '10 years | ' | ' | |
Expected dividend yield | 0.00% | ' | ' | |
Unrecognized compensation cost related to equity awards | 7,000,000 | ' | ' | |
Remaining requisite service period for equity awards to be recognized | '3 years 2 months | ' | ' | |
RSUs and DSUs [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Unrecognized compensation cost related to equity awards | $9,000,000 | ' | ' | |
Remaining requisite service period for equity awards to be recognized | '3 years 2 months | ' | ' | |
Number of shares of common stock to receive per unit upon conversion | 1 | ' | ' | |
Weighted-average grant-date fair value, granted | $16.15 | [1] | $11.66 | ' |
Incentive Plan [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Shares authorized for issuance of stock incentive awards | 9,000,000 | ' | ' | |
Available shares for issuance | 5,700,000 | ' | ' | |
Deferred Compensation Plan [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Percentage of cash fees surrender in exchange of DSU and RSU, minimum | ' | ' | 50.00% | |
Percentage of cash fees surrender in exchange of DSU and RSU, maximum | ' | ' | 100.00% | |
Number of awards issued as a percentage of fees earned | ' | ' | 110.00% | |
Premium incentive | ' | ' | 10.00% | |
Director [Member] | RSUs and DSUs [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Vesting period to meet certain retirement eligibility criteria | '1 year | ' | ' | |
Settlement period for awards once vested | '3 years | ' | ' | |
Employees [Member] | RSUs and DSUs [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Vesting period to meet certain retirement eligibility criteria | '4 years | ' | ' | |
[1] | Includes 32,804 DSUs to non-employee directors pursuant to the Deferred Compensation Plan. |
ShareBased_Compensation_Weight
Share-Based Compensation - Weighted - Average Assumptions (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Exercise price | $15.66 | $11.41 |
Fair value | $7.65 | $5.59 |
Expected dividend yield | 0.00% | 0.00% |
Expected volatility | 50.00% | 50.60% |
Risk-free interest rate | 1.80% | 1.60% |
Expected life in years | '6 years 3 months | '6 years 3 months |
ShareBased_Compensation_Activi
Share-Based Compensation - Activity of Stock Options (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Number of shares | ' | ' |
Outstanding as of December 31, 2012 | 1,530,618 | ' |
Granted | 692,759 | 785,885 |
Exercised | -13,301 | ' |
Forfeited | -180,773 | ' |
Outstanding as of December 31, 2013 | 2,029,303 | 1,530,618 |
Exercisable as of December 31, 2013 | 585,928 | ' |
Weighted-Average Exercise Price | ' | ' |
Outstanding as of December 31, 2012 | $15.46 | ' |
Granted | $15.66 | $11.41 |
Exercised | $11.41 | ' |
Forfeited | $15.40 | ' |
Outstanding as of December 31, 2013 | $15.56 | $15.46 |
Exercisable as of December 31, 2013 | $17.74 | ' |
Weighted average contractual life - outstanding | '8 years 8 months 12 days | '9 years 2 months 14 days |
Weighted average contractual life - exercisable | '7 years 9 months 19 days | ' |
Aggregate intrinsic value - outstanding | $0 | $0 |
Aggregate intrinsic value - exercisable | $0 | ' |
ShareBased_Compensation_Activi1
Share-Based Compensation - Activity of RSUs and DSUs (Detail) (RSUs and DSUs [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | ||
RSUs and DSUs [Member] | ' | ' | |
Number of units | ' | ' | |
Outstanding as of December 31, 2012 | 777,548 | ' | |
Granted | 504,329 | [1] | ' |
Vested and settled | -226,305 | [2] | ' |
Forfeited | -95,121 | ' | |
Outstanding as of December 31, 2013 | 960,451 | [3] | 777,548 |
Weighted-average fair value at grant date | ' | ' | |
Outstanding as of December 31, 2012 | $13.50 | ' | |
Granted | $16.15 | [1] | $11.66 |
Vested and settled | $12.63 | [2] | ' |
Forfeited | $13.18 | ' | |
Outstanding as of December 31, 2013 | $15.13 | [3] | $13.50 |
[1] | Includes 32,804 DSUs to non-employee directors pursuant to the Deferred Compensation Plan. | ||
[2] | Includes 8,149 and 3,613 awards that were vested in 2012 and 2011, respectively, but were not settled until 2013. | ||
[3] | Includes 38,424 awards that were vested in 2013 but have not been settled and therefore remain outstanding as of December 31, 2013. |
ShareBased_Compensation_Activi2
Share-Based Compensation - Activity of RSUs and DSUs (Parenthetical) (Detail) (RSUs and DSUs [Member]) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Number of DSUs granted | 504,329 | [1] | ' | ' |
Awards vested but not settled and still outstanding | ' | 8,149 | 3,613 | |
Additional Awards vested but not settled and still outstanding | 38,424 | ' | ' | |
Non Employee Directors [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Number of DSUs granted | 32,804 | ' | ' | |
[1] | Includes 32,804 DSUs to non-employee directors pursuant to the Deferred Compensation Plan. |
Timberland_and_Operating_Lease2
Timberland and Operating Leases and Purchase Obligations - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Operating lease expense | $12 | $13 | $13 |
Timberland_and_Operating_Lease3
Timberland and Operating Leases and Purchase Obligations - Summary of Operating Leases and Commitments for Purchase Obligations (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Purchase Obligations, 2014 | $77 |
Purchase Obligations, 2015 | 44 |
Purchase Obligations, 2016 | 42 |
Purchase Obligations, 2017 | 35 |
Purchase Obligations, 2018 | 16 |
Purchase Obligations, Thereafter | 49 |
Purchase Obligations, Total | 263 |
Operating Leases, Net, 2014 | 4 |
Operating Leases, Net, 2015 | 3 |
Operating Leases, Net, 2016 | 3 |
Operating Leases, Net, 2017 | 2 |
Operating Leases, Net, 2018 | 2 |
Operating Leases, Net, Thereafter | 9 |
Operating Leases, Net, Total | $23 |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Customers | Country | Customers | |
Country | Customers | Country | |
Segment Reporting [Abstract] | ' | ' | ' |
Number Of Customers Accounted For 10 Percent Or More Of Sales | 0 | 0 | 0 |
Segment Reporting, Percentage Of Sales Threshold For Major Customers | 10.00% | 10.00% | 10.00% |
Number of countries in other countries group exceeding maximum percentage of consolidated sales | 0 | 0 | 0 |
Maximum percentage of consolidated sales in other Countries group | 2.00% | 2.00% | 2.00% |
Segment_Information_Schedule_o
Segment Information - Schedule of Segment Reporting Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | $1,150 | $1,130 | $1,107 | $1,074 | $1,128 | $1,153 | $1,168 | $1,054 | $4,461 | $4,503 | $4,756 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 243 | 233 | 220 | |||||||||||
Operating income (loss) | 8 | [1] | 36 | [1] | 3 | [1] | -49 | [1] | -58 | [2] | 31 | [2] | -32 | [2] | 31 | [2] | -2 | [1],[3] | -28 | [2],[3] | 207 | [3] |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 161 | 169 | 97 | |||||||||||
Net gain on disposition of assets | 0 | 0 | 2 | 0 | 7 | 4 | 1 | 23 | 2 | 35 | 3 | |||||||||||
Closure costs, impairment and other related charges | -33 | -4 | -12 | -40 | -87 | -5 | -88 | -5 | -89 | -185 | -46 | |||||||||||
Inventory write-downs related to closures | 6 | 0 | 1 | 4 | 5 | 0 | 7 | 0 | 11 | 12 | 3 | |||||||||||
Severance costs | ' | ' | ' | ' | -2 | 0 | -1 | -2 | 0 | -5 | -12 | |||||||||||
Transaction costs | -1 | 0 | -2 | -3 | -1 | 0 | -3 | -4 | -6 | -8 | -5 | |||||||||||
Start up costs of idled mills | -1 | -3 | -13 | -15 | -8 | -5 | 0 | 0 | -32 | -13 | 0 | |||||||||||
Significant items included in Corporate/Other operating Income/loss, Total | -41 | -7 | -26 | -62 | -96 | -6 | -98 | 12 | -136 | -188 | -63 | |||||||||||
Newsprint [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,473 | 1,627 | 1,816 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 73 | 72 | 73 | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 40 | 97 | 89 | |||||||||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 57 | 58 | 34 | |||||||||||
Specialty Papers [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,366 | 1,562 | 1,813 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 77 | 83 | 84 | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 35 | 85 | 122 | |||||||||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 22 | 19 | |||||||||||
Market Pulp [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,053 | [4] | 814 | [4] | 659 | [4] | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 52 | 44 | 30 | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 42 | -43 | 91 | |||||||||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 40 | 40 | 12 | |||||||||||
Wood Products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 569 | 500 | 468 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 36 | 34 | 33 | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 41 | 26 | -25 | |||||||||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 31 | 22 | 20 | |||||||||||
Corporate and Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 0 | 0 | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -160 | -193 | -70 | |||||||||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $27 | $12 | |||||||||||
[1] | for the year ended December 31, 2013 included the following significant items:(In millions)First QuarterSecond QuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$— $2 $— $— $2 Closure costs, impairment and other related charges (40) (12) (4) (33) (89) Inventory write-downs related to closures (4) (1) — (6) (11) Transaction costs (3) (2) — (1) (6) Start up costs of idled mill (15) (13) (3) (1) (32) $(62) $(26) $(7) $(41) $(136) | |||||||||||||||||||||
[2] | for the year ended December 31, 2012 included the following significant items:(In millions)First QuarterSecondQuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$23 $1 $4 $7 $35 Closure costs, impairment and other related charges (5) (88) (5) (87) (185) Inventory write-downs related to closures — (7) — (5) (12) Severance costs (2) (1) — (2) (5) Transaction costs (4) (3) — (1) (8) Start up costs of idled mills — — (5) (8) (13) $12 $(98) $(6) $(96) $(188) | |||||||||||||||||||||
[3] | Corporate and other operating loss for the years ended December 31, 2013, 2012 and 2011 included the following significant items:(In millions)2013 2012 2011 Net gain on disposition of assets$2 $35 $3 Closure costs, impairment and other related charges (89) (185) (46) Inventory write-downs related to closures (11) (12) (3) Severance costs — (5) (12) Transaction costs (6) (8) (5) Start up costs of idled mills (32) (13) — $(136) $(188) $(63) | |||||||||||||||||||||
[4] | For the years ended December 31, 2013, 2012 and 2011, market pulp sales excluded inter-segment sales of $17 million, $36 million and $33 million, respectively. |
Segment_Information_Schedule_o1
Segment Information - Schedule of Segment Reporting Information (Parenthetical) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Market pulp inter-segment sales | $1,150 | $1,130 | $1,107 | $1,074 | $1,128 | $1,153 | $1,168 | $1,054 | $4,461 | $4,503 | $4,756 | |||
Market Pulp [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Market pulp inter-segment sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,053 | [1] | 814 | [1] | 659 | [1] |
Intersegment Eliminations [Member] | Market Pulp [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Market pulp inter-segment sales | ' | ' | ' | ' | ' | ' | ' | ' | $17 | $36 | $33 | |||
[1] | For the years ended December 31, 2013, 2012 and 2011, market pulp sales excluded inter-segment sales of $17 million, $36 million and $33 million, respectively. |
Segment_Information_Summary_of
Segment Information - Summary of Sales by Countries Based on Location of Customers (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | $1,150 | $1,130 | $1,107 | $1,074 | $1,128 | $1,153 | $1,168 | $1,054 | $4,461 | $4,503 | $4,756 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,834 | 2,766 | 2,859 |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 546 | 636 | 636 |
Mexico [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 168 | 140 | 151 |
Brazil [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 122 | 154 | 166 |
Italy [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 85 | 105 | 106 |
India [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 74 | 36 | 60 |
Korea [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 65 | 84 | 88 |
Other Countries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 567 | 582 | 690 |
Foreign Countries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | $1,627 | $1,737 | $1,897 |
Segment_Information_Summary_of1
Segment Information - Summary of Long-Lived Assets, Excluding Goodwill, Intangible Assets and Deferred Tax Assets, by Country (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Long-Lived Assets | $2,491 | $2,634 |
United States [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Long-Lived Assets | 967 | 1,071 |
Foreign Countries [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Long-Lived Assets | 1,524 | 1,563 |
Canada [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Long-Lived Assets | 1,498 | 1,538 |
Korea [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Long-Lived Assets | $26 | $25 |
Condensed_Consolidated_Financi
Condensed Consolidated Financial Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Guarantor Subsidiaries [Member] | ' |
Condensed Financial Statements, Captions [Line Items] | ' |
Percentage of owned material U S Subsidiaries | 100.00% |
Non-guarantor Subsidiaries [Member] | ' |
Condensed Financial Statements, Captions [Line Items] | ' |
Percentage of owned material U S Subsidiaries | 100.00% |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information - Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | $1,150 | $1,130 | $1,107 | $1,074 | $1,128 | $1,153 | $1,168 | $1,054 | $4,461 | $4,503 | $4,756 | |||||||||||
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 3,446 | 3,485 | 3,581 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 243 | 233 | 220 | |||||||||||
Distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 521 | 514 | 547 | |||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 166 | 149 | 158 | |||||||||||
Closure costs, impairment and other related charges | 33 | 4 | 12 | 40 | 87 | 5 | 88 | 5 | 89 | 185 | 46 | |||||||||||
Net gain on disposition of assets | 0 | 0 | 2 | 0 | 7 | 4 | 1 | 23 | 2 | 35 | 3 | |||||||||||
Operating (loss) income | 8 | [1] | 36 | [1] | 3 | [1] | -49 | [1] | -58 | [2] | 31 | [2] | -32 | [2] | 31 | [2] | -2 | [1],[3] | -28 | [2],[3] | 207 | [3] |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -51 | -66 | -95 | |||||||||||
Other (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -62 | 22 | -48 | |||||||||||
Parent's equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | |||||||||||
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -115 | -72 | 64 | |||||||||||
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -524 | 39 | -19 | |||||||||||
Net (loss) income including noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -639 | -33 | 45 | |||||||||||
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 34 | 2 | |||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | -3 | -588 | -43 | -5 | -45 | 37 | -17 | 26 | -639 | 1 | 47 | |||||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | -296 | -318 | -256 | |||||||||||
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 18 | 27 | |||||||||||
Closure costs, impairment and other related charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Net gain on disposition of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -18 | -18 | -27 | |||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -89 | -214 | -216 | |||||||||||
Other (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -60 | 2 | 6 | |||||||||||
Parent's equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -472 | 147 | 199 | |||||||||||
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -639 | -83 | -38 | |||||||||||
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 84 | 85 | |||||||||||
Net (loss) income including noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -639 | 1 | 47 | |||||||||||
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | -639 | 1 | 47 | |||||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | -296 | -318 | -256 | |||||||||||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 3,674 | 3,139 | 3,141 | |||||||||||
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 3,356 | 2,774 | 2,680 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 100 | 93 | 90 | |||||||||||
Distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 172 | 162 | 157 | |||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 47 | 56 | 58 | |||||||||||
Closure costs, impairment and other related charges | ' | ' | ' | ' | ' | ' | ' | ' | 61 | 12 | 18 | |||||||||||
Net gain on disposition of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 2 | |||||||||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -62 | 42 | 140 | |||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -4 | -13 | -7 | |||||||||||
Other (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | 66 | 171 | 134 | |||||||||||
Parent's equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 200 | 267 | |||||||||||
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -564 | -69 | -109 | |||||||||||
Net (loss) income including noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -564 | 131 | 158 | |||||||||||
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | -564 | 131 | 158 | |||||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | -346 | 69 | 85 | |||||||||||
Non-guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,956 | 2,894 | 3,154 | |||||||||||
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 2,247 | 2,228 | 2,440 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 143 | 140 | 130 | |||||||||||
Distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | 357 | 361 | 390 | |||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 101 | 75 | 73 | |||||||||||
Closure costs, impairment and other related charges | ' | ' | ' | ' | ' | ' | ' | ' | 28 | 173 | 28 | |||||||||||
Net gain on disposition of assets | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 35 | 1 | |||||||||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 82 | -48 | 94 | |||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -8 | -8 | -18 | |||||||||||
Other (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -18 | 18 | -42 | |||||||||||
Parent's equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 56 | -38 | 34 | |||||||||||
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -21 | 23 | 5 | |||||||||||
Net (loss) income including noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 35 | -15 | 39 | |||||||||||
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 34 | 2 | |||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | 35 | 19 | 41 | |||||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | 217 | -238 | -188 | |||||||||||
Consolidating Adjustments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | -2,169 | -1,530 | -1,539 | |||||||||||
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Cost of sales, excluding depreciation, amortization and distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | -2,157 | -1,517 | -1,539 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Distribution costs | ' | ' | ' | ' | ' | ' | ' | ' | -8 | -9 | 0 | |||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Closure costs, impairment and other related charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Net gain on disposition of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -4 | -4 | 0 | |||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 50 | 169 | 146 | |||||||||||
Other (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -50 | -169 | -146 | |||||||||||
Parent's equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 472 | -147 | -199 | |||||||||||
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 468 | -151 | -199 | |||||||||||
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 61 | 1 | 0 | |||||||||||
Net (loss) income including noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 529 | -150 | -199 | |||||||||||
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Net (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | 529 | -150 | -199 | |||||||||||
Comprehensive (loss) income attributable to Resolute Forest Products Inc. | ' | ' | ' | ' | ' | ' | ' | ' | $129 | $169 | $103 | |||||||||||
[1] | for the year ended December 31, 2013 included the following significant items:(In millions)First QuarterSecond QuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$— $2 $— $— $2 Closure costs, impairment and other related charges (40) (12) (4) (33) (89) Inventory write-downs related to closures (4) (1) — (6) (11) Transaction costs (3) (2) — (1) (6) Start up costs of idled mill (15) (13) (3) (1) (32) $(62) $(26) $(7) $(41) $(136) | |||||||||||||||||||||
[2] | for the year ended December 31, 2012 included the following significant items:(In millions)First QuarterSecondQuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$23 $1 $4 $7 $35 Closure costs, impairment and other related charges (5) (88) (5) (87) (185) Inventory write-downs related to closures — (7) — (5) (12) Severance costs (2) (1) — (2) (5) Transaction costs (4) (3) — (1) (8) Start up costs of idled mills — — (5) (8) (13) $12 $(98) $(6) $(96) $(188) | |||||||||||||||||||||
[3] | Corporate and other operating loss for the years ended December 31, 2013, 2012 and 2011 included the following significant items:(In millions)2013 2012 2011 Net gain on disposition of assets$2 $35 $3 Closure costs, impairment and other related charges (89) (185) (46) Inventory write-downs related to closures (11) (12) (3) Severance costs — (5) (12) Transaction costs (6) (8) (5) Start up costs of idled mills (32) (13) — $(136) $(188) $(63) |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $322 | $263 | $369 | $319 |
Accounts receivable, net | 634 | 697 | ' | ' |
Accounts receivable from affiliates | 0 | 0 | ' | ' |
Inventories, net | 529 | 558 | ' | ' |
Deferred income tax assets | 32 | 56 | ' | ' |
Interest receivable from parent | 0 | ' | ' | ' |
Notes and interest receivable from parent | ' | 0 | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' |
Note receivable from a subsidiary | 0 | 0 | ' | ' |
Other current assets | 45 | 56 | ' | ' |
Total current assets | 1,562 | 1,630 | ' | ' |
Fixed assets, net | 2,289 | 2,440 | ' | ' |
Amortizable intangible assets, net | 66 | 69 | ' | ' |
Deferred income tax assets | 1,266 | 2,000 | ' | ' |
Notes receivable from parent | 0 | ' | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' |
Investments in and advances to consolidated subsidiaries | 0 | 0 | ' | ' |
Other assets | 202 | 194 | ' | ' |
Total assets | 5,385 | 6,333 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable and accrued liabilities | 533 | 581 | ' | ' |
Current portion of long-term debt | 2 | 2 | ' | ' |
Accounts payable to affiliates | 0 | 0 | ' | ' |
Note And Interest Payable To Subsidiary | 0 | 0 | ' | ' |
Deferred income tax liabilities | 32 | 0 | ' | ' |
Notes payable to affiliates | 0 | 0 | ' | ' |
Note Payable To Parent | 0 | 0 | ' | ' |
Total current liabilities | 567 | 583 | ' | ' |
Long-term debt, net of current portion | 597 | 532 | ' | ' |
Long-term debt due to subsidiaries | 0 | ' | ' | ' |
Long-term debt due to affiliate | 0 | 0 | ' | ' |
Pension and other postretirement benefit obligations | 1,294 | 1,946 | ' | ' |
Deferred income tax liabilities | 26 | 75 | ' | ' |
Other long-term liabilities | 62 | 72 | ' | ' |
Total liabilities | 2,546 | 3,208 | ' | ' |
Total equity | 2,839 | 3,125 | 3,483 | 3,987 |
Total liabilities and equity | 5,385 | 6,333 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 5 | 0 | 0 |
Accounts receivable, net | 0 | 0 | ' | ' |
Accounts receivable from affiliates | 0 | 0 | ' | ' |
Inventories, net | 0 | 0 | ' | ' |
Deferred income tax assets | 0 | 0 | ' | ' |
Interest receivable from parent | 0 | ' | ' | ' |
Notes and interest receivable from parent | ' | 0 | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' |
Note receivable from a subsidiary | 13 | 41 | ' | ' |
Other current assets | 0 | 0 | ' | ' |
Total current assets | 13 | 46 | ' | ' |
Fixed assets, net | 0 | 0 | ' | ' |
Amortizable intangible assets, net | 0 | 0 | ' | ' |
Deferred income tax assets | 0 | 0 | ' | ' |
Notes receivable from parent | 0 | ' | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' |
Investments in and advances to consolidated subsidiaries | 4,734 | 4,859 | ' | ' |
Other assets | 8 | 0 | ' | ' |
Total assets | 4,755 | 4,905 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable and accrued liabilities | 5 | 11 | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable to affiliates | 352 | 336 | ' | ' |
Note And Interest Payable To Subsidiary | 14 | 593 | ' | ' |
Deferred income tax liabilities | 0 | ' | ' | ' |
Notes payable to affiliates | ' | 0 | ' | ' |
Note Payable To Parent | 0 | 0 | ' | ' |
Total current liabilities | 371 | 940 | ' | ' |
Long-term debt, net of current portion | 595 | 528 | ' | ' |
Long-term debt due to subsidiaries | 627 | 0 | ' | ' |
Long-term debt due to affiliate | 0 | 0 | ' | ' |
Pension and other postretirement benefit obligations | 0 | 0 | ' | ' |
Deferred income tax liabilities | 0 | 0 | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' |
Total liabilities | 1,593 | 1,468 | ' | ' |
Total equity | 3,162 | 3,437 | ' | ' |
Total liabilities and equity | 4,755 | 4,905 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 165 | 171 | 128 | 164 |
Accounts receivable, net | 433 | 383 | ' | ' |
Accounts receivable from affiliates | 335 | 262 | ' | ' |
Inventories, net | 211 | 225 | ' | ' |
Deferred income tax assets | 0 | 11 | ' | ' |
Interest receivable from parent | 14 | ' | ' | ' |
Notes and interest receivable from parent | ' | 593 | ' | ' |
Notes receivable from affiliates | 350 | 9 | ' | ' |
Note receivable from a subsidiary | 0 | 0 | ' | ' |
Other current assets | 18 | 18 | ' | ' |
Total current assets | 1,526 | 1,672 | ' | ' |
Fixed assets, net | 847 | 908 | ' | ' |
Amortizable intangible assets, net | 0 | 0 | ' | ' |
Deferred income tax assets | 28 | 594 | ' | ' |
Notes receivable from parent | 627 | ' | ' | ' |
Notes receivable from affiliates | 170 | 531 | ' | ' |
Investments in and advances to consolidated subsidiaries | 2,085 | 2,089 | ' | ' |
Other assets | 112 | 98 | ' | ' |
Total assets | 5,395 | 5,892 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable and accrued liabilities | 190 | 198 | ' | ' |
Current portion of long-term debt | 1 | 0 | ' | ' |
Accounts payable to affiliates | 118 | 135 | ' | ' |
Note And Interest Payable To Subsidiary | 0 | 0 | ' | ' |
Deferred income tax liabilities | 32 | ' | ' | ' |
Notes payable to affiliates | 0 | 138 | ' | ' |
Note Payable To Parent | 0 | 0 | ' | ' |
Total current liabilities | 341 | 471 | ' | ' |
Long-term debt, net of current portion | 2 | 3 | ' | ' |
Long-term debt due to subsidiaries | 0 | ' | ' | ' |
Long-term debt due to affiliate | 0 | 0 | ' | ' |
Pension and other postretirement benefit obligations | 340 | 559 | ' | ' |
Deferred income tax liabilities | 1 | 0 | ' | ' |
Other long-term liabilities | 26 | 36 | ' | ' |
Total liabilities | 710 | 1,069 | ' | ' |
Total equity | 4,685 | 4,823 | ' | ' |
Total liabilities and equity | 5,395 | 5,892 | ' | ' |
Non-guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 157 | 87 | 241 | 155 |
Accounts receivable, net | 201 | 366 | ' | ' |
Accounts receivable from affiliates | 135 | 211 | ' | ' |
Inventories, net | 326 | 337 | ' | ' |
Deferred income tax assets | 32 | 45 | ' | ' |
Interest receivable from parent | 0 | ' | ' | ' |
Notes and interest receivable from parent | ' | 0 | ' | ' |
Notes receivable from affiliates | 0 | 138 | ' | ' |
Note receivable from a subsidiary | 0 | 0 | ' | ' |
Other current assets | 27 | 38 | ' | ' |
Total current assets | 878 | 1,222 | ' | ' |
Fixed assets, net | 1,442 | 1,532 | ' | ' |
Amortizable intangible assets, net | 66 | 69 | ' | ' |
Deferred income tax assets | 1,236 | 1,405 | ' | ' |
Notes receivable from parent | 0 | ' | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' |
Investments in and advances to consolidated subsidiaries | 0 | 0 | ' | ' |
Other assets | 82 | 96 | ' | ' |
Total assets | 3,704 | 4,324 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable and accrued liabilities | 338 | 424 | ' | ' |
Current portion of long-term debt | 1 | 2 | ' | ' |
Accounts payable to affiliates | 0 | 2 | ' | ' |
Note And Interest Payable To Subsidiary | 0 | 0 | ' | ' |
Deferred income tax liabilities | 0 | ' | ' | ' |
Notes payable to affiliates | 350 | 9 | ' | ' |
Note Payable To Parent | 13 | 41 | ' | ' |
Total current liabilities | 702 | 478 | ' | ' |
Long-term debt, net of current portion | 0 | 1 | ' | ' |
Long-term debt due to subsidiaries | 0 | ' | ' | ' |
Long-term debt due to affiliate | 170 | 531 | ' | ' |
Pension and other postretirement benefit obligations | 954 | 1,387 | ' | ' |
Deferred income tax liabilities | 25 | 75 | ' | ' |
Other long-term liabilities | 36 | 36 | ' | ' |
Total liabilities | 1,887 | 2,508 | ' | ' |
Total equity | 1,817 | 1,816 | ' | ' |
Total liabilities and equity | 3,704 | 4,324 | ' | ' |
Consolidating Adjustments [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable, net | 0 | -52 | ' | ' |
Accounts receivable from affiliates | -470 | -473 | ' | ' |
Inventories, net | -8 | -4 | ' | ' |
Deferred income tax assets | 0 | 0 | ' | ' |
Interest receivable from parent | -14 | ' | ' | ' |
Notes and interest receivable from parent | ' | -593 | ' | ' |
Notes receivable from affiliates | -350 | -147 | ' | ' |
Note receivable from a subsidiary | -13 | -41 | ' | ' |
Other current assets | 0 | 0 | ' | ' |
Total current assets | -855 | -1,310 | ' | ' |
Fixed assets, net | 0 | 0 | ' | ' |
Amortizable intangible assets, net | 0 | 0 | ' | ' |
Deferred income tax assets | 2 | 1 | ' | ' |
Notes receivable from parent | -627 | ' | ' | ' |
Notes receivable from affiliates | -170 | -531 | ' | ' |
Investments in and advances to consolidated subsidiaries | -6,819 | -6,948 | ' | ' |
Other assets | 0 | 0 | ' | ' |
Total assets | -8,469 | -8,788 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable and accrued liabilities | 0 | -52 | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable to affiliates | -470 | -473 | ' | ' |
Note And Interest Payable To Subsidiary | -14 | -593 | ' | ' |
Deferred income tax liabilities | 0 | ' | ' | ' |
Notes payable to affiliates | -350 | -147 | ' | ' |
Note Payable To Parent | -13 | -41 | ' | ' |
Total current liabilities | -847 | -1,306 | ' | ' |
Long-term debt, net of current portion | 0 | 0 | ' | ' |
Long-term debt due to subsidiaries | -627 | ' | ' | ' |
Long-term debt due to affiliate | -170 | -531 | ' | ' |
Pension and other postretirement benefit obligations | 0 | 0 | ' | ' |
Deferred income tax liabilities | 0 | 0 | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' |
Total liabilities | -1,644 | -1,837 | ' | ' |
Total equity | -6,825 | -6,951 | ' | ' |
Total liabilities and equity | ($8,469) | ($8,788) | ' | ' |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information - Condensed Consolidating Statement of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | $206 | $266 | $198 |
Cash flows from investing activities: | ' | ' | ' |
Cash invested in fixed assets | -161 | -169 | -97 |
Disposition of our interest in our Mersey operations, net of cash | 0 | 14 | 0 |
Disposition of investment in ACH | 0 | 0 | 296 |
Disposition of other assets | 4 | 36 | 19 |
Acquisition of Fibrek Inc., net of cash acquired | 0 | -24 | 0 |
Proceeds from holdback related to disposition of investment in MPCo | 0 | 0 | 29 |
Proceeds from insurance settlements | 4 | 0 | 8 |
Decrease (increase) in restricted cash | 8 | 76 | -2 |
Increase in deposit requirements for letters of credit, net | -2 | -12 | -8 |
Proceeds from Advances from affiliates | ' | 0 | 0 |
Payments for (Proceeds from) Other Investing Activities | -4 | 4 | 0 |
Net cash (used in) provided by investing activities | -151 | -75 | 245 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of long-term debt | 594 | 0 | 0 |
Premium paid on extinguishment of debt | -84 | 0 | 0 |
Dividends and distribution to noncontrolling interests | -2 | -5 | -21 |
Acquisition of noncontrolling interest | 0 | -27 | -15 |
Purchases of treasury stock | 0 | -67 | 0 |
Payments of debt | -503 | -198 | -354 |
Payments of financing and credit facility fees | -9 | 0 | -3 |
Contribution of capital from noncontrolling interest | 8 | 0 | 0 |
Net cash provided by (used in) financing activities | 4 | -297 | -393 |
Net (decrease) increase in cash and cash equivalents | 59 | -106 | 50 |
Cash and cash equivalents: | ' | ' | ' |
Beginning of year | 263 | 369 | 319 |
End of year | 322 | 263 | 369 |
Parent [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | -5 | 0 | 0 |
Cash flows from investing activities: | ' | ' | ' |
Cash invested in fixed assets | 0 | 0 | 0 |
Disposition of our interest in our Mersey operations, net of cash | ' | 0 | ' |
Disposition of investment in ACH | ' | ' | 0 |
Disposition of other assets | 0 | 0 | 0 |
Acquisition of Fibrek Inc., net of cash acquired | ' | 0 | ' |
Proceeds from holdback related to disposition of investment in MPCo | ' | ' | 0 |
Proceeds from insurance settlements | 0 | ' | 0 |
Decrease (increase) in restricted cash | 0 | 0 | 0 |
Increase in deposit requirements for letters of credit, net | 0 | 0 | 0 |
Proceeds from Advances from affiliates | 0 | 72 | 0 |
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | ' |
Net cash (used in) provided by investing activities | 0 | 72 | 0 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of long-term debt | 594 | 0 | 0 |
Premium paid on extinguishment of debt | -84 | 0 | 0 |
Dividends and distribution to noncontrolling interests | 0 | 0 | 0 |
Acquisition of noncontrolling interest | ' | 0 | 0 |
Purchases of treasury stock | 0 | -67 | 0 |
Payments of debt | -501 | 0 | 0 |
Payments of financing and credit facility fees | -9 | 0 | 0 |
Contribution of capital from noncontrolling interest | 0 | ' | ' |
Net cash provided by (used in) financing activities | 0 | -67 | 0 |
Net (decrease) increase in cash and cash equivalents | -5 | 5 | 0 |
Cash and cash equivalents: | ' | ' | ' |
Beginning of year | 5 | 0 | 0 |
End of year | 0 | 5 | 0 |
Guarantor Subsidiaries [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 41 | 249 | 188 |
Cash flows from investing activities: | ' | ' | ' |
Cash invested in fixed assets | -55 | -42 | -30 |
Disposition of our interest in our Mersey operations, net of cash | ' | 0 | ' |
Disposition of investment in ACH | ' | ' | 0 |
Disposition of other assets | 0 | 1 | 11 |
Acquisition of Fibrek Inc., net of cash acquired | ' | 0 | ' |
Proceeds from holdback related to disposition of investment in MPCo | ' | ' | 0 |
Proceeds from insurance settlements | 0 | ' | 0 |
Decrease (increase) in restricted cash | 0 | 0 | 0 |
Increase in deposit requirements for letters of credit, net | 0 | 0 | 0 |
Proceeds from Advances from affiliates | ' | -56 | 150 |
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | ' |
Net cash (used in) provided by investing activities | -55 | -97 | 131 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of long-term debt | 0 | ' | ' |
Premium paid on extinguishment of debt | 0 | ' | ' |
Dividends and distribution to noncontrolling interests | 0 | 0 | 0 |
Acquisition of noncontrolling interest | ' | 0 | 0 |
Purchases of treasury stock | ' | 0 | ' |
Payments of debt | 0 | -109 | -354 |
Payments of financing and credit facility fees | 0 | ' | -1 |
Contribution of capital from noncontrolling interest | 8 | ' | ' |
Net cash provided by (used in) financing activities | 8 | -109 | -355 |
Net (decrease) increase in cash and cash equivalents | -6 | 43 | -36 |
Cash and cash equivalents: | ' | ' | ' |
Beginning of year | 171 | 128 | 164 |
End of year | 165 | 171 | 128 |
Non-guarantor Subsidiaries [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 170 | 17 | 10 |
Cash flows from investing activities: | ' | ' | ' |
Cash invested in fixed assets | -106 | -127 | -67 |
Disposition of our interest in our Mersey operations, net of cash | ' | 14 | ' |
Disposition of investment in ACH | ' | ' | 296 |
Disposition of other assets | 4 | 35 | 8 |
Acquisition of Fibrek Inc., net of cash acquired | ' | -24 | ' |
Proceeds from holdback related to disposition of investment in MPCo | ' | ' | 29 |
Proceeds from insurance settlements | 4 | ' | 8 |
Decrease (increase) in restricted cash | 8 | 76 | -2 |
Increase in deposit requirements for letters of credit, net | -2 | -12 | -8 |
Proceeds from Advances from affiliates | ' | -16 | -150 |
Payments for (Proceeds from) Other Investing Activities | -4 | 4 | ' |
Net cash (used in) provided by investing activities | -96 | -50 | 114 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of long-term debt | 0 | ' | ' |
Premium paid on extinguishment of debt | 0 | ' | ' |
Dividends and distribution to noncontrolling interests | -2 | -5 | -21 |
Acquisition of noncontrolling interest | ' | -27 | -15 |
Purchases of treasury stock | ' | 0 | ' |
Payments of debt | -2 | -89 | 0 |
Payments of financing and credit facility fees | 0 | ' | -2 |
Contribution of capital from noncontrolling interest | 0 | ' | ' |
Net cash provided by (used in) financing activities | -4 | -121 | -38 |
Net (decrease) increase in cash and cash equivalents | 70 | -154 | 86 |
Cash and cash equivalents: | ' | ' | ' |
Beginning of year | 87 | 241 | 155 |
End of year | 157 | 87 | 241 |
Consolidating Adjustments [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 0 | 0 | 0 |
Cash flows from investing activities: | ' | ' | ' |
Cash invested in fixed assets | 0 | 0 | 0 |
Disposition of our interest in our Mersey operations, net of cash | ' | 0 | ' |
Disposition of investment in ACH | ' | ' | 0 |
Disposition of other assets | 0 | 0 | 0 |
Acquisition of Fibrek Inc., net of cash acquired | ' | 0 | ' |
Proceeds from holdback related to disposition of investment in MPCo | ' | ' | 0 |
Proceeds from insurance settlements | 0 | ' | 0 |
Decrease (increase) in restricted cash | 0 | 0 | 0 |
Increase in deposit requirements for letters of credit, net | 0 | 0 | 0 |
Proceeds from Advances from affiliates | ' | 0 | 0 |
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | ' |
Net cash (used in) provided by investing activities | 0 | 0 | 0 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of long-term debt | 0 | ' | ' |
Premium paid on extinguishment of debt | 0 | ' | ' |
Dividends and distribution to noncontrolling interests | ' | 0 | 0 |
Acquisition of noncontrolling interest | ' | 0 | 0 |
Purchases of treasury stock | ' | 0 | ' |
Payments of debt | 0 | 0 | 0 |
Payments of financing and credit facility fees | 0 | ' | 0 |
Contribution of capital from noncontrolling interest | 0 | ' | ' |
Net cash provided by (used in) financing activities | 0 | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents: | ' | ' | ' |
Beginning of year | 0 | 0 | 0 |
End of year | $0 | $0 | $0 |
Quarterly_Information_Schedule
Quarterly Information - Schedule of Unaudited Quarterly Financial Data (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | $1,150 | $1,130 | $1,107 | $1,074 | $1,128 | $1,153 | $1,168 | $1,054 | $4,461 | $4,503 | $4,756 | |||||||||||
Operating income (loss) | 8 | [1] | 36 | [1] | 3 | [1] | -49 | [1] | -58 | [2] | 31 | [2] | -32 | [2] | 31 | [2] | -2 | [1],[3] | -28 | [2],[3] | 207 | [3] |
Net income (loss) attributable to Resolute Forest Products Inc. | ($3) | ($588) | ($43) | ($5) | ($45) | $37 | ($17) | $26 | ($639) | $1 | $47 | |||||||||||
Basic net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | ($0.03) | ($6.22) | ($0.45) | ($0.05) | ($0.47) | $0.38 | ($0.17) | $0.27 | ($6.75) | $0.01 | $0.48 | |||||||||||
Diluted net income (loss) per share attributable to Resolute Forest Products Inc. common shareholders | ($0.03) | ($6.22) | ($0.45) | ($0.05) | ($0.47) | $0.38 | ($0.17) | $0.27 | ($6.75) | $0.01 | $0.48 | |||||||||||
[1] | for the year ended December 31, 2013 included the following significant items:(In millions)First QuarterSecond QuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$— $2 $— $— $2 Closure costs, impairment and other related charges (40) (12) (4) (33) (89) Inventory write-downs related to closures (4) (1) — (6) (11) Transaction costs (3) (2) — (1) (6) Start up costs of idled mill (15) (13) (3) (1) (32) $(62) $(26) $(7) $(41) $(136) | |||||||||||||||||||||
[2] | for the year ended December 31, 2012 included the following significant items:(In millions)First QuarterSecondQuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$23 $1 $4 $7 $35 Closure costs, impairment and other related charges (5) (88) (5) (87) (185) Inventory write-downs related to closures — (7) — (5) (12) Severance costs (2) (1) — (2) (5) Transaction costs (4) (3) — (1) (8) Start up costs of idled mills — — (5) (8) (13) $12 $(98) $(6) $(96) $(188) | |||||||||||||||||||||
[3] | Corporate and other operating loss for the years ended December 31, 2013, 2012 and 2011 included the following significant items:(In millions)2013 2012 2011 Net gain on disposition of assets$2 $35 $3 Closure costs, impairment and other related charges (89) (185) (46) Inventory write-downs related to closures (11) (12) (3) Severance costs — (5) (12) Transaction costs (6) (8) (5) Start up costs of idled mills (32) (13) — $(136) $(188) $(63) |
Quarterly_Information_Special_
Quarterly Information - Special Items Included in Operating Income (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net gain on disposition of assets | $0 | $0 | $2 | $0 | $7 | $4 | $1 | $23 | $2 | $35 | $3 |
Closure costs, impairment and other related charges | -33 | -4 | -12 | -40 | -87 | -5 | -88 | -5 | -89 | -185 | -46 |
Inventory write-downs related to closures | 6 | 0 | 1 | 4 | 5 | 0 | 7 | 0 | 11 | 12 | 3 |
Severance costs | ' | ' | ' | ' | -2 | 0 | -1 | -2 | 0 | -5 | -12 |
Transaction costs | -1 | 0 | -2 | -3 | -1 | 0 | -3 | -4 | -6 | -8 | -5 |
Start up costs of idled mills | -1 | -3 | -13 | -15 | -8 | -5 | 0 | 0 | -32 | -13 | 0 |
Significant items included in Corporate/Other operating Income/loss, Total | ($41) | ($7) | ($26) | ($62) | ($96) | ($6) | ($98) | $12 | ($136) | ($188) | ($63) |
Subsequent_Event_Additional_In
Subsequent Event - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | |||
Mar. 01, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Feb. 25, 2014 | |
US OPEB For U.S. Unionized Post-65 Active Employees [Member] | Subsequent Event [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | ||
US OPEB For U.S. Unionized Post-65 Active Employees [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' |
Term of the Water Rights associated with the Jim-Gray dam | '10 years | ' | ' | ' | ' |
Term of the master collective agreement covering four unionized US pulp and paper mills | ' | '5 years | ' | ' | ' |
Number of pulp and paper mills in renewed master collective agreement | ' | 4 | ' | ' | ' |
Increased (decreased) pension and other postretirement benefit obligations | ' | ' | ($40,000,000) | ' | ' |
Prior service cost (credit), before tax | ' | ' | -41,000,000 | ' | ' |
Fixed charge coverage ratio: minimum excess availability | ' | ' | ' | 60,000,000 | 50,000,000 |
Fixed charge coverage criteria: Percentage of total commitments or borrowing base in effect | ' | ' | ' | 12.50% | 10.00% |
Line of credit facility uncommitted incremental loan increase | ' | ' | ' | ' | 200,000,000 |
Minimum basket for unsecured debt | ' | ' | ' | ' | 500,000,000 |
Minimum basket for secured debt | ' | ' | ' | ' | 500,000,000 |
Percentage of eligible international accounts receivable included in borrowing base | ' | ' | ' | ' | 90.00% |
Percentage of cash deposits included in borrowing base | ' | ' | ' | ' | 100.00% |
Maximum cash deposits included in borrowing base | ' | ' | ' | ' | $100,000,000 |
Schedule_I_Condensed_Financial1
Schedule I - Condensed Financial Statements and Notes - Condensed Statements of Operations, Retained Earnings and Comprehensive Loss (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | $166 | $149 | $158 | |||||||||||
Operating income (loss) | 8 | [1] | 36 | [1] | 3 | [1] | -49 | [1] | -58 | [2] | 31 | [2] | -32 | [2] | 31 | [2] | -2 | [1],[3] | -28 | [2],[3] | 207 | [3] |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -51 | -66 | -95 | |||||||||||
Other (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -62 | 22 | -48 | |||||||||||
Equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | |||||||||||
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -115 | -72 | 64 | |||||||||||
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -524 | 39 | -19 | |||||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -639 | -33 | 45 | |||||||||||
Retained earnings as of beginning of year | ' | ' | ' | 47 | ' | ' | ' | ' | 47 | ' | ' | |||||||||||
Retained earnings as of end of year | -592 | ' | ' | ' | 47 | ' | ' | ' | -592 | 47 | ' | |||||||||||
Comprehensive (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -296 | -318 | -256 | |||||||||||
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 18 | 27 | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -18 | -18 | -27 | |||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -89 | -214 | -216 | |||||||||||
Other (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -60 | 2 | 6 | |||||||||||
Equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -472 | 147 | 199 | |||||||||||
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -639 | -83 | -38 | |||||||||||
Income tax (provision) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 84 | 85 | |||||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -639 | 1 | 47 | |||||||||||
Retained earnings as of beginning of year | ' | ' | ' | 47 | ' | ' | ' | 47 | 47 | 47 | 0 | |||||||||||
Acquisition of Fibrek | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1 | 0 | |||||||||||
Retained earnings as of end of year | -592 | ' | ' | ' | 47 | ' | ' | ' | -592 | 47 | 47 | |||||||||||
Comprehensive (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($296) | ($318) | ($256) | |||||||||||
[1] | for the year ended December 31, 2013 included the following significant items:(In millions)First QuarterSecond QuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$— $2 $— $— $2 Closure costs, impairment and other related charges (40) (12) (4) (33) (89) Inventory write-downs related to closures (4) (1) — (6) (11) Transaction costs (3) (2) — (1) (6) Start up costs of idled mill (15) (13) (3) (1) (32) $(62) $(26) $(7) $(41) $(136) | |||||||||||||||||||||
[2] | for the year ended December 31, 2012 included the following significant items:(In millions)First QuarterSecondQuarterThird QuarterFourth QuarterYearNet gain on disposition of assets$23 $1 $4 $7 $35 Closure costs, impairment and other related charges (5) (88) (5) (87) (185) Inventory write-downs related to closures — (7) — (5) (12) Severance costs (2) (1) — (2) (5) Transaction costs (4) (3) — (1) (8) Start up costs of idled mills — — (5) (8) (13) $12 $(98) $(6) $(96) $(188) | |||||||||||||||||||||
[3] | Corporate and other operating loss for the years ended December 31, 2013, 2012 and 2011 included the following significant items:(In millions)2013 2012 2011 Net gain on disposition of assets$2 $35 $3 Closure costs, impairment and other related charges (89) (185) (46) Inventory write-downs related to closures (11) (12) (3) Severance costs — (5) (12) Transaction costs (6) (8) (5) Start up costs of idled mills (32) (13) — $(136) $(188) $(63) |
Schedule_I_Condensed_Financial2
Schedule I - Condensed Financial Statements and Notes - Condensed Balance Sheets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $322 | $263 | $369 | $319 |
Note receivable from a subsidiary | 0 | 0 | ' | ' |
Total current assets | 1,562 | 1,630 | ' | ' |
Investment in and advances to subsidiaries | 0 | 0 | ' | ' |
Other assets | 202 | 194 | ' | ' |
Total assets | 5,385 | 6,333 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable and accrued liabilities | 533 | 581 | ' | ' |
Accounts payable to subsidiaries | 0 | 0 | ' | ' |
Notes and interest payable to subsidiaries | 0 | 0 | ' | ' |
Total current liabilities | 567 | 583 | ' | ' |
Long-term debt | 597 | 532 | ' | ' |
Long-term debt due to subsidiaries | 0 | ' | ' | ' |
Total liabilities | 2,546 | 3,208 | ' | ' |
Equity: | ' | ' | ' | ' |
Common stock | 0 | 0 | ' | ' |
Additional paid-in capital | 3,751 | 3,730 | ' | ' |
(Deficit) retained earnings | -592 | 47 | ' | ' |
Accumulated other comprehensive loss | -271 | -614 | ' | ' |
Treasury stock | -61 | -61 | ' | ' |
Total Resolute Forest Products Inc. equity | 2,827 | 3,102 | ' | ' |
Total liabilities and equity | 5,385 | 6,333 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 5 | 0 | 0 |
Note receivable from a subsidiary | 13 | 41 | ' | ' |
Total current assets | 13 | 46 | ' | ' |
Investment in and advances to subsidiaries | 4,734 | 4,859 | ' | ' |
Other assets | 8 | 0 | ' | ' |
Total assets | 4,755 | 4,905 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable and accrued liabilities | 5 | 11 | ' | ' |
Accounts payable to subsidiaries | 352 | 336 | ' | ' |
Notes and interest payable to subsidiaries | 14 | 593 | ' | ' |
Total current liabilities | 371 | 940 | ' | ' |
Long-term debt | 595 | 528 | ' | ' |
Long-term debt due to subsidiaries | 627 | 0 | ' | ' |
Total liabilities | 1,593 | 1,468 | ' | ' |
Equity: | ' | ' | ' | ' |
Common stock | 0 | 0 | ' | ' |
Additional paid-in capital | 4,086 | 4,065 | ' | ' |
(Deficit) retained earnings | -592 | 47 | 47 | 0 |
Accumulated other comprehensive loss | -271 | -614 | ' | ' |
Treasury stock | -61 | -61 | ' | ' |
Total Resolute Forest Products Inc. equity | 3,162 | 3,437 | ' | ' |
Total liabilities and equity | $4,755 | $4,905 | ' | ' |
Schedule_I_Condensed_Financial3
Schedule I - Condensed Financial Statements and Notes - Condensed Statements of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | $206 | $266 | $198 |
Proceeds from Advances from affiliates | ' | 0 | 0 |
Cash flows from investing activities: | ' | ' | ' |
Net cash (used in) provided by investing activities | -151 | -75 | 245 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of long-term debt | 594 | 0 | 0 |
Premium paid on extinguishment of debt | -84 | 0 | 0 |
Purchases of treasury stock | 0 | -67 | 0 |
Payments of debt | -503 | -198 | -354 |
Payments of financing and credit facility fees | -9 | 0 | -3 |
Net cash provided by (used in) financing activities | 4 | -297 | -393 |
Net increase (decrease) in cash and cash equivalents | 59 | -106 | 50 |
Cash and cash equivalents: | ' | ' | ' |
Beginning of year | 263 | 369 | 319 |
End of year | 322 | 263 | 369 |
Parent [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | -5 | 0 | 0 |
Proceeds from Advances from affiliates | 0 | 72 | 0 |
Cash flows from investing activities: | ' | ' | ' |
Net cash (used in) provided by investing activities | 0 | 72 | 0 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of long-term debt | 594 | 0 | 0 |
Premium paid on extinguishment of debt | -84 | 0 | 0 |
Purchases of treasury stock | 0 | -67 | 0 |
Payments of debt | -501 | 0 | 0 |
Payments of financing and credit facility fees | -9 | 0 | 0 |
Net cash provided by (used in) financing activities | 0 | -67 | 0 |
Net increase (decrease) in cash and cash equivalents | -5 | 5 | 0 |
Cash and cash equivalents: | ' | ' | ' |
Beginning of year | 5 | 0 | 0 |
End of year | $0 | $5 | $0 |
Schedule_I_Condensed_Financial4
Schedule I - Condensed Financial Statements and Notes - Organization and Basis of Presentation (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Equity in income of subsidiaries | $0 | ' | $0 | ' |
(Loss) income before income taxes | -115,000,000 | -72,000,000 | 64,000,000 | ' |
Net (loss) income | -639,000,000 | -33,000,000 | 45,000,000 | ' |
Comprehensive (loss) | -296,000,000 | -318,000,000 | -256,000,000 | ' |
Investment in and advances to subsidiaries | 0 | 0 | ' | ' |
(Deficit) retained earnings | -592,000,000 | 47,000,000 | ' | ' |
Cumulative effect of change in retained earnings due to change in accounting policy | ' | ' | 6,000,000 | 0 |
Before Accounting Policy Change [Member] | ' | ' | ' | ' |
(Loss) income before income taxes | -116,000,000 | -74,000,000 | 55,000,000 | ' |
Net (loss) income | -641,000,000 | -36,000,000 | 39,000,000 | ' |
Comprehensive (loss) | -298,000,000 | -321,000,000 | -262,000,000 | ' |
(Deficit) retained earnings | -603,000,000 | 38,000,000 | ' | ' |
Adjustment [Member] | ' | ' | ' | ' |
(Loss) income before income taxes | 1,000,000 | 2,000,000 | 9,000,000 | ' |
Net (loss) income | 2,000,000 | 3,000,000 | 6,000,000 | ' |
Comprehensive (loss) | 2,000,000 | 3,000,000 | 6,000,000 | ' |
(Deficit) retained earnings | 11,000,000 | 9,000,000 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Equity in income of subsidiaries | -472,000,000 | 147,000,000 | 199,000,000 | ' |
(Loss) income before income taxes | -639,000,000 | -83,000,000 | -38,000,000 | ' |
Net (loss) income | -639,000,000 | 1,000,000 | 47,000,000 | ' |
Comprehensive (loss) | -296,000,000 | -318,000,000 | -256,000,000 | ' |
Investment in and advances to subsidiaries | 4,734,000,000 | 4,859,000,000 | ' | ' |
(Deficit) retained earnings | -592,000,000 | 47,000,000 | 47,000,000 | 0 |
Parent [Member] | Before Accounting Policy Change [Member] | ' | ' | ' | ' |
Equity in income of subsidiaries | -474,000,000 | 144,000,000 | 193,000,000 | ' |
(Loss) income before income taxes | -641,000,000 | -86,000,000 | -44,000,000 | ' |
Net (loss) income | -641,000,000 | -2,000,000 | 41,000,000 | ' |
Comprehensive (loss) | -298,000,000 | -321,000,000 | -262,000,000 | ' |
Investment in and advances to subsidiaries | 4,723,000,000 | 4,850,000,000 | ' | ' |
(Deficit) retained earnings | -603,000,000 | 38,000,000 | ' | ' |
Parent [Member] | Adjustment [Member] | ' | ' | ' | ' |
Equity in income of subsidiaries | 2,000,000 | 3,000,000 | 6,000,000 | ' |
(Loss) income before income taxes | 2,000,000 | 3,000,000 | 6,000,000 | ' |
Net (loss) income | 2,000,000 | 3,000,000 | 6,000,000 | ' |
Comprehensive (loss) | 2,000,000 | 3,000,000 | 6,000,000 | ' |
Investment in and advances to subsidiaries | 11,000,000 | 9,000,000 | ' | ' |
(Deficit) retained earnings | 11,000,000 | 9,000,000 | ' | ' |
Cumulative effect of change in retained earnings due to change in accounting policy | ' | ' | $6,000,000 | $0 |
Schedule_I_Condensed_Financial5
Schedule I - Condensed Financial Statements and Notes - Financing Arrangements (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | 8-May-13 | Dec. 31, 2012 | Dec. 31, 2013 | 8-May-13 | Oct. 08, 2013 | Oct. 10, 2012 | Nov. 04, 2011 | Jun. 29, 2011 | Jun. 13, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 8-May-13 | Oct. 08, 2013 | Oct. 10, 2012 | Nov. 04, 2011 | Jun. 29, 2011 | Jun. 13, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 8-May-13 | Apr. 29, 2013 | Apr. 28, 2013 | Apr. 29, 2013 | Apr. 29, 2013 | Apr. 29, 2013 | Apr. 29, 2013 | |
Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Swingline sub-facility [Member] | Letter of Credit [Member] | US and Canadian Borrowers [Member] | U.S. Borrowers [Member] | ||||
Senior Notes Due 2023 [Member] | Senior Notes Due 2023 [Member] | Senior Notes Due 2023 [Member] | Senior Notes Due 2023 [Member] | Senior Notes Due 2023 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||||
Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount | ' | ' | ' | ' | $600,000,000 | ' | ' | $600,000,000 | ' | ' | ' | ' | ' | $850,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying amount | ' | ' | ' | 595,000,000 | ' | 0 | 595,000,000 | ' | ' | ' | ' | ' | ' | 0 | 528,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 528,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized discount (premium) | ' | ' | ' | 5,000,000 | 6,000,000 | 0 | 5,000,000 | ' | ' | ' | ' | ' | ' | 0 | -27,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | -27,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of ACH Limited Partnership to redeem Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debt repurchased | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 85,000,000 | 85,000,000 | 85,000,000 | 94,000,000 | ' | ' | ' | 496,000,000 | 5,000,000 | 85,000,000 | 85,000,000 | 85,000,000 | 94,000,000 | ' | ' | ' | 496,000,000 | ' | ' | ' | ' | ' | ' |
Redemption price paid, percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | 103.00% | 103.00% | 103.00% | 103.00% | 105.00% | ' | ' | ' | ' | 103.00% | 103.00% | 103.00% | 103.00% | 105.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net gains on extinguishment of debt | -59,000,000 | 2,000,000 | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -59,000,000 | 2,000,000 | 6,000,000 | ' | ' | ' | ' | ' | ' | -59,000,000 | 2,000,000 | 6,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Repurchase, Aggregate consideration paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 584,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 584,000,000 | ' | ' | ' | ' | ' | ' |
Debt instrument, Repurchase, Accrued and unpaid interest paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' |
Write Off Of Unamortized Premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28-Oct-16 | ' | ' | ' | ' | ' |
ABL credit facility commitment amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 665,000,000 | 600,000,000 | 60,000,000 | 200,000,000 | 465,000,000 | 200,000,000 |
ABL credit facility uncommitted incremental loan borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $135,000,000 | ' | ' | ' | ' | ' |
Schedule_I_Condensed_Financial6
Schedule I - Condensed Financial Statements and Notes - Transactions with Related Parties - Additional Information (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||
22-May-12 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 20, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Jun. 29, 2013 | Mar. 28, 2013 | Mar. 27, 2013 | Dec. 31, 2013 | Dec. 20, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 09, 2010 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Resolute FP US Inc. [Member] | Resolute FP US Inc. [Member] | Resolute FP US Inc. [Member] | Resolute FP US Inc. [Member] | Resolute FP US Inc. [Member] | Donohue [Member] | Donohue [Member] | Calhoun Newsprint Company [Member] | RFP Canada Inc. [Member] | RFP Canada Inc. [Member] | RFP Canada Inc. [Member] | RFP Canada Inc. [Member] | RFP Canada Inc. [Member] | RFP Canada Inc. [Member] | RFP Canada Inc. [Member] | RFP Canada Inc. [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Secured Notes Due 2018 [Member] | Senior Notes Due 2023 [Member] | |||||
Promissary Note [Member] | Promissary Note [Member] | Promissary Note [Member] | Promissary Note [Member] | Promissary Note [Member] | Promissary Note [Member] | Promissary Note [Member] | Promissary Note [Member] | Fibrek [Member] | Minimum [Member] | Maximum [Member] | Resolute FP US Inc. [Member] | Resolute FP US Inc. [Member] | Resolute FP US Inc. [Member] | Resolute FP US Inc. [Member] | |||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note receivable from a subsidiary | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $41,000,000 | $13,000,000 | ' | ' | ' | $250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligation to related party, increase (decrease) | ' | ' | ' | ' | -805,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in parent's additional paid-in capital in a subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -805,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related party transaction, amount of promissory note | ' | ' | ' | ' | ' | ' | ' | 353,000,000 | 650,000,000 | 270,000,000 | 139,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate of notes | ' | ' | ' | ' | ' | ' | ' | 6.50% | 12.50% | 3.57% | 13.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to additional paid-in capital, transactions with noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount received in exchange for common stock distributed as part of an acquisition | ' | ' | 43,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock distributed to Fibrek's shareholders as partial consideration for Fibrek shares purchased by Resolute FP Canada Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of shares of common stock authorized to be repurchased | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate purchase price of common stock | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of treasury stock, shares | ' | ' | 5,610,152 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of common stock repurchased | ' | ' | 67,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of common stock repurchased funded by subsidiaries | ' | ' | ' | ' | ' | 51,000,000 | ' | ' | ' | ' | ' | ' | ' | 16,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Corporate administrative fees charged by subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,000,000 | 17,000,000 | 23,000,000 | ' | ' | ' | ' | ' | ' |
Debt redemption principal payment | ' | ' | ' | ' | ' | 85,000,000 | 264,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of premium on redemption of debt | ' | ' | ' | ' | ' | 3,000,000 | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest on senior notes paid by subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,000,000 | 60,000,000 | 85,000,000 | 18,000,000 |
Income tax (provision) benefit | ' | -524,000,000 | 39,000,000 | -19,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 84,000,000 | 85,000,000 | ' | ' | ' | ' | ' | ' |
Maximum potential amount of future payments that could be required under guarantee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $35,000,000 | $31,000,000 | ' | ' | ' | ' | ' | ' | ' |
Guarantor Obligations, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'P10D | 'P90D | ' | ' | ' | ' |
Schedule_I_Condensed_Financial7
Schedule I - Condensed Financial Statements and Notes - Transactions with Related Parties - Notes Payable (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Related Party Transaction [Line Items] | ' | ' |
Long-term debt due to subsidiaries | $0 | ' |
Subsidiaries [Member] | Parent Company [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Long-term debt due to subsidiaries including accrued interest | 641 | 593 |
Long-term debt due to subsidiaries including accrued interest, current | 14 | 593 |
Long-term debt due to subsidiaries | 627 | 0 |
RFP US [Member] | Parent Company [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Long-term debt due to subsidiaries including accrued interest | 364 | 332 |
Long-term debt due to subsidiaries including accrued interest, current | 11 | 332 |
Donohue [Member] | Parent Company [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Long-term debt due to subsidiaries including accrued interest | 277 | 261 |
Long-term debt due to subsidiaries including accrued interest, current | $3 | $261 |
Schedule_I_Condensed_Financial8
Schedule I - Condensed Financial Statements and Notes - Transactions with Related Parties - Interest Expense (Details) (Parent Company [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Subsidiaries [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Interest Expense, Related Party | $48 | $159 | $144 |
RFP US [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Interest Expense, Related Party | 32 | 127 | 115 |
Donohue [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Interest Expense, Related Party | $16 | $32 | $29 |