Verso Paper 10-Q 16 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 31, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	VRSZ
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		81,877,254
Entity Registrant Name	VERSO CORPORATION
Entity Central Index Key	1,421,182
Entity Filer Category	Smaller Reporting Company
VERSO PAPER HOLDINGS LLC
Document Information [Line Items]
Entity Registrant Name	VERSO PAPER HOLDINGS LLC
Entity Central Index Key	1,395,864
Entity Filer Category	Non-accelerated Filer

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 10	$ 6
Accounts receivable, net	257	88
Inventories	540	110
Assets held for sale	0	61
Prepaid expenses and other assets	34	11
Total current assets	841	276
Property, plant, and equipment, net	1,931	531
Intangibles and other assets, net	129	71
Total assets	2,901	878
Current liabilities:
Accounts payable	170	63
Accrued liabilities	239	205
Current maturities of long-term debt	72	30
Liabilities related to assets held for sale	0	2
Total current liabilities	481	300
Long-term debt	2,838	1,297
Other liabilities	560	65
Total liabilities	3,879	1,662
Commitments and contingencies (Note 13)	0	0
Equity:
Preferred stock -- par value $0.01 (20,000,000 shares authorized, no shares issued)	0	0
Common stock -- par value $0.01 (250,000,000 shares authorized with 82,115,543 shares issued and 81,877,254 outstanding on September 30, 2015, and with 53,434,698 shares issued and 53,336,634 outstanding on December 31, 2014)	1	1
Treasury stock -- at cost (238,289 shares on September 30, 2015 and 98,064 shares on December 31, 2014)	(1)	0
Paid-in-capital	320	222
Retained deficit	(1,273)	(980)
Accumulated other comprehensive loss	(25)	(27)
Total deficit	(978)	(784)
Total liabilities and equity	2,901	878
VERSO PAPER HOLDINGS LLC
Current assets:
Cash and cash equivalents	10	6
Accounts receivable, net	257	88
Inventories	540	110
Assets held for sale	0	61
Prepaid expenses and other assets	34	11
Total current assets	841	276
Property, plant, and equipment, net	1,931	531
Intangibles and other assets, net	145	94
Total assets	2,917	901
Current liabilities:
Accounts payable	170	63
Accrued liabilities	232	206
Current maturities of long-term debt	72	30
Liabilities related to assets held for sale	0	2
Total current liabilities	474	301
Long-term debt	2,861	1,320
Other liabilities	556	60
Total liabilities	3,891	1,681
Commitments and contingencies (Note 13)	0	0
Equity:
Paid-in-capital	331	234
Retained deficit	(1,280)	(987)
Accumulated other comprehensive loss	(25)	(27)
Total deficit	(974)	(780)
Total liabilities and equity	$ 2,917	$ 901

UNAUDITED CONDENSED CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	82,115,543	53,434,698
Common stock, shares outstanding	81,877,254	53,336,634
Treasury stock, shares	238,289	98,064

UNAUDITED CONDENSED CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net sales	$ 782	$ 350	$ 2,366	$ 970
Costs and expenses:
Cost of products sold (exclusive of depreciation, amortization and depletion)	677	295	2,062	873
Depreciation, amortization and depletion (exclusive of accelerated depreciation included in restructuring charges)	60	23	181	74
Selling, general and administrative expenses	33	18	134	53
Restructuring charges	55		83	0
Total operating expenses	825	336	2,460	1,000
Operating (loss) income	(43)	14	(94)	(30)
Interest expense	68	37	201	107
Other loss, net	0	14	0	33
Loss before income taxes	(111)	(37)	(295)	(170)
Income tax benefit	0	(1)	(2)	(1)
Net loss	$ (111)	$ (36)	$ (293)	$ (169)
Loss per common share:
Basic loss per share (usd per share)	$ (1.36)	$ (0.67)	$ (3.61)	$ (3.17)
Diluted loss per share (usd per share)	$ (1.36)	$ (0.67)	$ (3.61)	$ (3.17)
Weighted average common shares outstanding (in thousands)
Basic (shares)	81,842	53,328	81,099	53,280
Diluted (shares)	81,842	53,328	81,099	53,280
VERSO PAPER HOLDINGS LLC
Net sales	$ 782	$ 350	$ 2,366	$ 970
Costs and expenses:
Cost of products sold (exclusive of depreciation, amortization and depletion)	677	295	2,062	873
Depreciation, amortization and depletion (exclusive of accelerated depreciation included in restructuring charges)	60	23	181	74
Selling, general and administrative expenses	33	18	134	53
Restructuring charges	55		83
Total operating expenses	825	336	2,460	1,000
Operating (loss) income	(43)	14	(94)	(30)
Interest income	0	0	(1)	(1)
Interest expense	68	37	202	108
Other loss, net	0	14	0	33
Loss before income taxes	(111)	(37)	(295)	(170)
Income tax benefit	0	0	(2)	0
Net loss	$ (111)	$ (37)	$ (293)	$ (170)

UNAUDITED CONDENSED CONSOLIDAT5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net loss	$ (111)	$ (36)	$ (293)	$ (169)
Other comprehensive income:
Defined benefit pension plan amortization of net loss and prior service cost	1	1	2	1
Other comprehensive income	1	1	2	1
Comprehensive loss	(110)	(35)	(291)	(168)
VERSO PAPER HOLDINGS LLC
Net loss	(111)	(37)	(293)	(170)
Other comprehensive income:
Defined benefit pension plan amortization of net loss and prior service cost	1	1	2	1
Other comprehensive income	1	1	2	1
Comprehensive loss	$ (110)	$ (36)	$ (291)	$ (169)

UNAUDITED CONDENSED CONSOLIDAT6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	VERSO PAPER HOLDINGS LLC	Common Stock	Treasury Stock	Paid-in-Capital	Paid-in-CapitalVERSO PAPER HOLDINGS LLC	Retained Deficit	Retained DeficitVERSO PAPER HOLDINGS LLC	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)VERSO PAPER HOLDINGS LLC
Common Stock, Shares, Beginning of the Period at Dec. 31, 2013			53,247,000
Stockholders' Equity Beginning of Period at Dec. 31, 2013	$ (417)		$ 1	$ 0	$ 220		$ (627)		$ (11)
Treasury stock, Shares Beginning of Period at Dec. 31, 2013				(74,000)
Member's Equity Beginning of Period at Dec. 31, 2013		$ (411)				$ 231		$ (631)		$ (11)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent (Return of capital)		1				1
Net loss	(169)	(170)					(169)	(170)
Other comprehensive income	1	1							1	1
Treasury shares acquired (in shares)				(24,000)
Treasury shares acquired	0			$ 0
Stock option exercise (in shares)			34,000
Stock option exercise			$ 0
Common stock issued for restricted stock, net (in shares)			146,000
Common stock issued for restricted stock, net	0
Stock issued for NewPage acquisition	0	0
Stock issued for convertible warrants	0	0
Equity award expense	1	1			1	1
Common Stock, Shares, End of the Period at Sep. 30, 2014			53,427,000
Stockholders' Equity End of Period at Sep. 30, 2014	$ (584)		$ 1	$ 0	221		(796)		(10)
Treasury stock, Shares End of Period at Sep. 30, 2014				(98,000)
Member's Equity End of Period at Sep. 30, 2014		(578)				233		(801)		(10)
Common Stock, Shares, Beginning of the Period at Dec. 31, 2014	53,434,698		53,435,000
Stockholders' Equity Beginning of Period at Dec. 31, 2014	$ (784)		$ 1	$ 0	222		(980)		(27)
Treasury stock, Shares Beginning of Period at Dec. 31, 2014	(98,064)			(98,000)
Member's Equity Beginning of Period at Dec. 31, 2014		(780)				234		(987)		(27)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent (Return of capital)		95				95
Net loss	$ (293)	(293)					(293)	(293)
Other comprehensive income	2	2							2	2
Treasury shares acquired (in shares)				(140,000)
Treasury shares acquired	(1)			$ (1)
Stock option exercise (in shares)			14,000
Stock option exercise	0		$ 0
Common stock issued for restricted stock, net (in shares)			357,000
Common stock issued for restricted stock, net	0		$ 0
Stock issued for NewPage acquisition ( in shares)			13,607,000
Stock issued for NewPage acquisition	46	46			46
Stock issued for convertible warrants (in shares)			14,702,000
Stock issued for convertible warrants	50	50			50
Equity award expense	$ 2	2			2	2
Common Stock, Shares, End of the Period at Sep. 30, 2015	82,115,543		82,115,000
Stockholders' Equity End of Period at Sep. 30, 2015	$ (978)		$ 1	$ (1)	$ 320		$ (1,273)		$ (25)
Treasury stock, Shares End of Period at Sep. 30, 2015	(238,289)			(238,000)
Member's Equity End of Period at Sep. 30, 2015		$ (974)				$ 331		$ (1,280)		$ (25)

UNAUDITED CONDENSED CONSOLIDAT7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net cash used in operating activities	$ (284)	$ (68)
Cash Flows From Investing Activities:
Proceeds from sale of assets	51	0
Transfers from restricted cash, net	1	1
Capital expenditures	(48)	(34)
Acquisition, net of cash acquired	128	0
Acquisition of investment securities	(5)	0
Other investing activities	0	5
Net cash provided by (used in) investing activities	127	(28)
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities	673	340
Payments on revolving credit facilities	(512)	(228)
Debt issuance costs	0	(2)
Repayment of long-term debt	0	(13)
Contribution from Verso	0	0
Net cash provided by financing activities	161	97
Change in cash and cash equivalents	4	1
Cash and cash equivalents at beginning of period	6	11
Cash and cash equivalents at end of period	10	12
Noncash investing and financing activities:
Notes issued for NewPage acquisition	663	0
Stock issued for NewPage acquisition	46	0
Stock issued for convertible warrants	50	0
Conversion of accrued interest to long-term debt	19	0
Reductions in long-term debt for debt modification	(15)	(1)
Increase in long-term debt from paid in kind (PIK) interest	5	0
VERSO PAPER HOLDINGS LLC
Net cash used in operating activities	(284)	(69)
Cash Flows From Investing Activities:
Proceeds from sale of assets	51	0
Transfers from restricted cash, net	1	1
Capital expenditures	(48)	(34)
Acquisition, net of cash acquired	128	0
Acquisition of investment securities	(5)	0
Other investing activities	0	5
Net cash provided by (used in) investing activities	127	(28)
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities	673	340
Payments on revolving credit facilities	(512)	(228)
Debt issuance costs	0	(2)
Repayment of long-term debt	0	(13)
Contribution from Verso	0	1
Net cash provided by financing activities	161	98
Change in cash and cash equivalents	4	1
Cash and cash equivalents at beginning of period	6	11
Cash and cash equivalents at end of period	10	12
Noncash investing and financing activities:
Notes issued for NewPage acquisition	663	0
Stock issued for NewPage acquisition	46	0
Stock issued for convertible warrants	50	0
Conversion of accrued interest to long-term debt	19	0
Reductions in long-term debt for debt modification	(15)	(1)
Increase in long-term debt from paid in kind (PIK) interest	$ 5	$ 0

BACKGROUND AND BASIS OF PRESENT

BACKGROUND AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND AND BASIS OF PRESENTATION	BACKGROUND AND BASIS OF PRESENTATION Within our organization, Verso Corporation , formerly named Verso Paper Corp., is the ultimate parent entity and the sole member of Verso Paper Finance Holdings One LLC, which is the sole member of Verso Paper Finance Holdings LLC, which is the sole member of Verso Paper Holdings LLC. As used in this report, the term “Verso” refers to Verso Corporation; the term “Verso Finance” refers to Verso Paper Finance Holdings LLC; the term “Verso Holdings” refers to Verso Paper Holdings LLC; the term “NewPage” refers to NewPage Holdings Inc., an indirect, wholly owned subsidiary of Verso; the term “NewPage Corp” refers to NewPage Corporation, an indirect, wholly owned subsidiary of NewPage; and the term for any such entity includes its direct and indirect subsidiaries when referring to the entity’s consolidated financial condition or results. Unless otherwise noted, references to “Verso,” “we,” “us,” and “our” refer collectively to Verso Corporation and Verso Holdings. Other than Verso’s common stock transactions, Verso Finance’s debt obligation and related financing costs and interest expense, Verso Holdings’ loan to Verso Finance, and the debt obligation of Verso Holdings’ consolidated variable interest entity to Verso Finance, the assets, liabilities, income, expenses and cash flows presented for all periods represent those of Verso Holdings in all material respects. Unless otherwise noted, the information provided pertains to both Verso and Verso Holdings. This report contains the Unaudited Condensed Consolidated Financial Statements of Verso and Verso Holdings as of September 30, 2015 , and for the three-month and nine-month periods ended September 30, 2015 and 2014 . The December 31, 2014 , Unaudited Condensed Consolidated Balance Sheet data was derived from audited financial statements but it does not include all disclosures required annually by accounting principles generally accepted in the United States of America, or “GAAP.” In the opinion of Management, the accompanying Unaudited Condensed Consolidated Financial Statements include all adjustments that are necessary for the fair presentation of Verso’s and Verso Holdings’ respective financial conditions, results of operations, and cash flows for the interim periods presented. Except as disclosed in the notes to the Unaudited Condensed Consolidated Financial Statements, such adjustments are of a normal, recurring nature. Variable interest entities for which Verso or Verso Holdings is the primary beneficiary are consolidated. Intercompany balances and transactions are eliminated in consolidation. The results of operations and cash flows for the interim periods presented may not necessarily be indicative of full-year results. It is suggested that these financial statements be read in conjunction with the audited consolidated financial statements and notes thereto of Verso and Verso Holdings contained in their respective Annual Reports on Form 10-K for the year ended December 31, 2014 . On January 3, 2014, Verso, Verso Merger Sub Inc., an indirect, wholly owned subsidiary of Verso, or “Merger Sub,” and NewPage entered into an Agreement and Plan of Merger, or the “Merger Agreement,” pursuant to which the parties agreed to merge Merger Sub with and into NewPage on the terms and subject to the conditions set forth in the Merger Agreement, with NewPage surviving the merger as an indirect, wholly owned subsidiary of Verso. On January 7, 2015, Verso consummated the previously announced acquisition of NewPage through the merger of Merger Sub with and into NewPage, or the “NewPage acquisition,” pursuant to the Merger Agreement. As a result of the merger of Merger Sub with and into NewPage, Merger Sub’s separate corporate existence ceased and NewPage continued as the surviving corporation and an indirect, wholly owned subsidiary of Verso (see Note 4). As such, the Unaudited Condensed Consolidated Financial Statements for the three-month and nine-month periods ended September 30, 2015 , include the results of operations of NewPage beginning January 7, 2015. We have also elected to change our reporting increment from thousands to millions. We operate in the following two market segments: paper and pulp (see Note 14). Our core business platform is as a producer of coated freesheet and coated groundwood papers. Our products are used primarily in media and marketing applications, including catalogs, magazines, and commercial printing applications such as high-end advertising brochures, annual reports, and direct-mail advertising. We have historically relied primarily upon cash flow from operations and borrowings under our revolving credit facilities to fund our operations, capital expenditures and debt service requirements. Our recent financial results have included several years of operating losses and cash flows used in operations. We are highly leveraged, with $2,806 million (see Note 6) in borrowings outstanding under our existing financing arrangements as of September 30, 2015 , including the NewPage Corp revolving credit facility, the “NewPage ABL Facility,” and floating rate senior secured term loan, the “NewPage Term Loan Facility.” Also as of September 30, 2015 , we had $8 million available for future borrowings under the Verso Holdings revolving credit facilities and $54 million available for future borrowings under the NewPage ABL Facility (see Note 6). Our indebtedness results in us dedicating a substantial portion of our cash flows from operations to payments for our debt service, thereby reducing the availability of our cash flows to fund working capital, capital expenditures, research and development efforts, and other corporate purposes. In addition, our indebtedness increases our vulnerability to adverse economic and industry conditions and places us at a competitive disadvantage compared to competitors that have less debt. We have certain significant cash use requirements over the next twelve months outside of operations, including debt service requirements (see Note 6), integration costs associated with the NewPage acquisition (see Note 4), and restructuring costs related to both the NewPage acquisition and the recently announced production capacity reductions at our Androscoggin and Wickliffe mills (see Note 11). Our projected fixed debt service payments over the next twelve months through September 30, 2016 , based on our current borrowings and floating interest rates at September 30, 2015 , and without taking into account repayments related to our revolving credit facilities, are approximately $352 million , of which approximately $72 million is principal (approximately $3 million in the fourth quarter of 2015 and approximately $9 million , $9 million and $50 million in the first, second and third quarters of 2016, respectively) and approximately $280 million is interest (approximately $20 million in the fourth quarter of 2015 and approximately $120 million , $20 million and $120 million in the first, second and third quarters of 2016, respectively). Our debt arrangements also contain financial and other restrictive covenants that limit our ability to engage in activities that may be in our long-term best interests. Failure to comply with those covenants could result in an event of default which, if not cured or waived, could result in the acceleration of all of our debts. If we are unable to repay our indebtedness when due or declared due, our lenders also will have the right to proceed against the collateral securing the indebtedness. The accompanying Unaudited Condensed Consolidated Financial Statements have been prepared assuming that we will continue as a going concern. However, based on our liquidity position as of September 30, 2015, and our projections of operating results and cash flows for the remainder of 2015 and 2016, we anticipate that we will not have sufficient resources to fund our most significant future cash obligations and, therefore, we believe that there is substantial doubt about our ability to continue as a going concern for the next twelve months. In addition, based on our recent operating performance, the ability of NewPage Corp to comply with the Total Net Leverage Ratio covenant in the NewPage Term Loan Facility over the next twelve months is particularly vulnerable to declines in our operating performance compared to our projections. As of September 30, 2015, a decrease of $2 million of Adjusted EBITDA would have resulted in noncompliance with the Total Net Leverage Ratio covenant, and it is reasonably possible that NewPage Corp will not comply with the quarterly Total Net Leverage Ratio covenant at the end of upcoming quarters. The calculation of Adjusted EBITDA that is used in calculating the Total Net Leverage Ratio includes adjustments, such as pro forma adjustments for management’s projections of expected savings from our profitability program. In the event that NewPage Corp is unable to comply with the Total Net Leverage Ratio covenant in a future quarter, Verso Holdings has the option to make capital contributions for the amount of the shortfall without triggering an event of default. However, Verso Holdings may not have sufficient liquidity to fund any such capital contribution. A breach of the Total Net Leverage Ratio covenant, if a sufficient capital contribution could not be made to cure the breach, would represent an event of default under the NewPage Term Loan Facility and would trigger cross-default provisions of our other credit facilities. In addition, our lenders would have the right to make any loans then outstanding immediately due and payable, which would trigger cross-default provisions under our indentures, and would no longer be obligated to extend further credit to us. As a result of our cash flow and liquidity concerns, we have begun evaluating potential alternatives for the restructuring of our balance sheet. We have engaged PJT Partners L.P. to provide us with restructuring and transactional services and O’Melveny & Myers LLP to provide us with restructuring legal advice and assistance. We have begun discussions with certain of our creditor constituencies to explore potential restructuring alternatives. We also are exploring opportunities to raise funds through potential sales of certain of our mills and related facilities, which may include the Stevens Point, Androscoggin and Duluth mills, our recently idled Wickliffe mill, and the hydroelectric generation facilities associated with our Androscoggin mill. Our potential restructuring could occur in a consensual, out-of-court manner or through a court-supervised Chapter 11 bankruptcy proceeding. While we intend to actively pursue a potential restructuring and potential asset sales, there can be no assurance that any of these activities will occur on terms acceptable to us or at all. In addition to the strategic alternatives, our future projected operating results also are highly dependent on the successful integration of NewPage, the borrowing availability of the combined company, the synergies and operational cost reduction and earnings enhancement initiatives expected to be achieved, and general market conditions. The synergies and operational cost reductions are targeted in the areas of personnel expenses, raw material costs and manufacturing efficiencies. We have established plans within each of these areas to meet these targets. If the integration of NewPage into our business is not completed as expected, the synergies and other benefits that we expect to achieve could be materially and adversely affected, and these situations could result in additional transaction costs, loss of revenue or other effects associated with uncertainty about the NewPage acquisition. The accompanying Unaudited Condensed Consolidated Financial Statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should we be unable to continue as a going concern.

RECENT ACCOUNTING DEVELOPMENTS

RECENT ACCOUNTING DEVELOPMENTS	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING DEVELOPMENTS	RECENT ACCOUNTING DEVELOPMENTS ASC Topic 205, Presentation of Financial Statements and ASC Topic 360, Property, Plant, and Equipment. In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , which changes the criteria for determining which disposals can be presented as discontinued operations and modifies the related disclosure requirements. This guidance should be applied prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date, which is fiscal years beginning on or after December 15, 2014, and interim periods within those annual periods. The adoption of this amendment in the first quarter of 2015 did not have a material impact on the presentation of our Unaudited Condensed Consolidated Financial Statements. ASC Topic 606, Revenue from Contracts with Customers . In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. This guidance will replace all current GAAP guidance on this topic and eliminate all industry-specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This guidance was effective for periods beginning after December 15, 2016 and can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption; however, in August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which defers the effective date by one year making the guidance effective for annual reporting periods beginning after December 15, 2017. We are evaluating the impact of adopting this new accounting standard on our Unaudited Condensed Consolidated Financial Statements. ASC Topic 205, Presentation of Financial Statements-Going Concern. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This ASU provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. This guidance is effective for annual periods ending after December 15, 2016, and interim periods thereafter. We are evaluating the disclosure impact of adopting this new accounting standard on our Unaudited Condensed Consolidated Financial Statements. ASC Topic 810, Consolidation. In February 2015, the FASB issued ASU 2015-02, Consolidation , which amends the requirements for consolidation and significantly changes the consolidation analysis required. This ASU is effective for annual reporting periods beginning after December 15, 2015, and interim periods within those years. We are evaluating the provisions of this guidance. ASC Topic 835, Interest. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. This ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. This guidance is effective for periods beginning after December 15, 2015 with early adoption permitted. As of September 30, 2015 , $ 19 million of net debt issuance costs were included in Intangibles and other assets, net in our Unaudited Condensed Consolidated Balance Sheet. Under the new guidance, the net debt issuance costs would reduce both our total other noncurrent assets and long-term debt. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. This ASU clarifies the treatment of debt issuance costs from line-of-credit arrangements after the adoption of ASU 2015-03. It states that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We do not expect the adoption of ASU 2015-15 to have a material impact on our Unaudited Condensed Consolidated Financial Statements. ASC Topic 330, Inventory . In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. This ASU provides that entities should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. This ASU is effective for annual reporting periods beginning after December 15, 2016, and interim periods within those years. Early adoption is permitted. We are evaluating the provisions of this guidance. ASC Topic 815, Derivatives and Hedging . In August 2015, the FASB issued ASU 2015-13, Application of the Normal Purchases and Normal Sales Scope Exception to Certain Electricity Contracts within Nodal Energy Markets . This ASU allows the application of the normal purchases and normal sales scope exception to energy purchases or sales in nodal energy markets. According to ASU 2015-13, the use of locational marginal pricing by an independent system operator to determine a transmission charge or credit in a nodal energy market would not constitute a net settlement of a forward contract for the purchase or sale of electricity, even when legal title to the electricity is conveyed to the independent system operator during transmission. The guidance is effective upon issuance and must be applied prospectively. The adoption of ASU 2015-13 did not have a material impact on our Unaudited Condensed Consolidated Financial Statements. ASC Topic 805, Business Combinations . In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments . This guidance eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. The acquirer must record, in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. This guidance is effective for fiscal years beginning after December 15, 2015, and early adoption is permitted. We do not expect the adoption of this new standard will have a material impact on our Unaudited Condensed Consolidated Financial Statements. Other new accounting pronouncements issued but not effective until after September 30, 2015 , are not expected to have a significant effect on our Unaudited Condensed Consolidated Financial Statements.

SUPPLEMENTAL FINANCIAL STATEMEN

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION	SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION Earnings Per Share — Verso computes earnings per share by dividing net income or net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income or net loss by the weighted average number of shares outstanding, after giving effect to potentially dilutive common share equivalents outstanding during the period. Potentially dilutive common share equivalents are not included in the computation of diluted earnings per share if they are anti-dilutive. The following table provides a reconciliation of Verso’s basic and diluted loss per common share: VERSO Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Net loss available to common shareholders (in millions) $ (111 ) $ (36 ) $ (293 ) $ (169 ) Weighted average common shares outstanding (in thousands) 81,348 52,787 80,666 52,749 Weighted average restricted shares (in thousands) 494 541 433 531 Weighted average common shares outstanding - basic 81,842 53,328 81,099 53,280 Dilutive shares from stock options — — — — Weighted average common shares outstanding - diluted 81,842 53,328 81,099 53,280 Basic loss per share $ (1.36 ) $ (0.67 ) $ (3.61 ) $ (3.17 ) Diluted loss per share $ (1.36 ) $ (0.67 ) $ (3.61 ) $ (3.17 ) In accordance with ASC Topic 260, Earnings Per Share , unvested restricted stock awards issued by Verso contain nonforfeitable rights to dividends and qualify as participating securities. No dividends have been declared or paid in 2015 or 2014 . For the three-month and nine-month periods ended September 30, 2015 , respectively, 8,776,854 and 7,794,513 weighted average potentially dilutive shares from stock options with weighted average exercise prices per share of $2.17 and $ 2.37 , respectively, were excluded from the diluted earnings per share calculation due to the antidilutive effect such shares would have on net loss per common share. For the three-month and nine-month periods ended September 30, 2014 , respectively, 4,969,881 and 4,787,402 weighted average potentially dilutive shares from stock options with weighted average exercise prices per share of $2.45 and $ 2.43 , respectively, were excluded from the diluted earnings per share calculation due to the antidilutive effect such shares would have on net loss per common share. Inventories and Replacement Parts and Other Supplies — Inventory values include all costs directly associated with manufacturing products: materials, labor, and manufacturing overhead. These values are presented at the lower of cost or market. Costs of raw materials, work-in-progress, and finished goods are determined using the first-in, first-out method. Replacement parts and other supplies are stated using the average cost method and are reflected in Inventories and Intangibles and other assets, net, respectively, on the accompanying Unaudited Condensed Consolidated Balance Sheets (see Note 5 ). The following table summarizes inventories by major category: September 30, December 31, (Dollars in millions) 2015 2014 Raw materials $ 114 $ 19 Work-in-process 67 9 Finished goods 279 62 Replacement parts and other supplies 80 20 Inventories $ 540 $ 110 Asset Retirement Obligations — In accordance with ASC Topic 410, Asset Retirement and Environmental Obligations , a liability and an asset are recorded equal to the present value of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists. The liability is accreted over time and the asset is depreciated over its useful life. Our asset retirement obligations under this standard relate primarily to closure and post-closure costs for landfills. Revisions to the liability could occur due to changes in the estimated costs or timing of closure or possible new federal or state regulations affecting the closure. The increase in the liability for the nine months ended September 30, 2015 was primarily attributable to the assumption of the asset retirement obligation liabilities associated with landfills acquired in connection with the NewPage acquisition. On September 30, 2015 and December 31, 2014 , we had $1 million of restricted cash included in Intangibles and other assets, net in the accompanying Unaudited Condensed Consolidated Balance Sheets related to asset retirement obligations in the state of Michigan. These cash deposits are required by the state and may only be used for the future closure of a landfill. The following table presents an analysis related to our asset retirement obligations. Long-term obligations are included in Other liabilities and current portions are included in Accrued liabilities in the accompanying Unaudited Condensed Consolidated Balance Sheets: Nine Months Ended September 30, (Dollars in millions) 2015 2014 Asset retirement obligations, January 1 $ 8 $ 13 Accretion expense 1 — Liabilities assumed 9 — Settlement of existing liabilities (2 ) — Adjustments to existing liabilities — (3 ) Asset retirement obligations, September 30 16 10 Less: Current portion — — Non-current portion of asset retirement obligations, September 30 $ 16 $ 10 In addition to the above obligations, we may be required to remove certain materials from our facilities or to remediate them in accordance with current regulations that govern the handling of certain hazardous or potentially hazardous materials. At this time, any such obligations have an indeterminate settlement date, and we believe that adequate information does not exist to reasonably estimate any such potential obligations. Accordingly, we will record a liability for such remediation when sufficient information becomes available to estimate the obligation. Property, Plant, and Equipment — Property, plant, and equipment is stated at cost, net of accumulated depreciation. Interest is capitalized on projects meeting certain criteria and is included in the cost of the assets. The capitalized interest is depreciated over the same useful lives as the related assets. Expenditures for major repairs and improvements are capitalized, whereas normal repairs and maintenance are expensed as incurred. Interest costs capitalized for the three months ended September 30, 2015 and 2014 were immaterial. For the nine months ended September 30, 2015 and 2014, interest costs capitalized were $1 million and $2 million , respectively. Depreciation is computed using the straight-line method over the assets’ estimated useful lives. Depreciation expense was $59 million and $179 million for the three-month and nine-month periods ended September 30, 2015 , respectively, compared to $22 million and $73 million for the three-month and nine-month periods ended September 30, 2014 , respectively.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITIONS	ACQUISITIONS AND DISPOSITIONS NewPage Acquisition - On January 3, 2014, Verso, Merger Sub, and NewPage entered into a Merger Agreement pursuant to which the parties agreed to merge Merger Sub with and into NewPage on the terms and subject to the conditions set forth in the Merger Agreement, with NewPage surviving the merger as an indirect, wholly owned subsidiary of Verso. Verso has incurred transaction and integration costs related to the NewPage acquisition during the three-month and nine-month periods ended September 30, 2015 of $7 million and $21 million , respectively, which are included in Selling, general and administrative expenses in the accompanying Unaudited Condensed Consolidated Statements of Operations. For the three-month and nine-month periods ended September 30, 2014 , Verso incurred transaction costs of $14 million and $33 million , respectively, related to the NewPage acquisition which were included in Other loss, net in the accompanying Unaudited Condensed Consolidated Statements of Operations. On January 7, 2015, Verso consummated the NewPage acquisition pursuant to the Merger Agreement. As a result of the merger, NewPage became a direct, wholly owned subsidiary of Verso Holdings. The NewPage acquisition provides Verso with assets in a complementary geographic area, a broader portfolio of products, and strategic flexibility to reduce operating costs and enhance our financial condition. As consideration for the NewPage acquisition, Verso issued (a) $650 million aggregate principal amount of New First Lien Notes and (b) 13,607,693 shares of Verso common stock in exchange for all the outstanding shares of common stock of NewPage. Also, as of the date that NewPage became an indirect wholly owned subsidiary of Verso, NewPage had an existing $750 million NewPage Term Loan Facility (see Note 6) and $350 million NewPage ABL Facility (see Note 6), of which $734 million and $100 million , respectively, were outstanding. As a condition of allowing the acquisition to proceed, the Antitrust Division of the U.S. Department of Justice entered into a settlement with Verso and NewPage that required NewPage to divest its paper mills in Biron, Wisconsin, and Rumford, Maine, which occurred prior to the acquisition of NewPage. Accounting consideration for the NewPage acquisition is as follows: (Dollars in millions) 13,607,693 shares of Verso common stock valued at January 7, 2015 closing price $ 46 $650 million face value New First Lien Notes valued at January 7, 2015 closing price 663 Accounting consideration $ 709 The preliminary allocation of the purchase price to the fair values of assets acquired and liabilities assumed in the NewPage acquisition includes necessary adjustments to reflect the estimated fair values of NewPage’s assets and liabilities at the completion of the NewPage acquisition. The preliminary allocation of the purchase price is as follows: (Dollars in millions) Cash $ 128 Current assets, excluding cash 577 Property, plant, and equipment 1,570 Other long-term assets 43 Current liabilities (276 ) Current portion of long-term debt (3 ) Noncurrent pension and other post-retirement benefit obligations (474 ) Other long-term liabilities (56 ) Long-term debt (800 ) Net assets acquired $ 709 The allocation of the purchase price above is considered preliminary and is based on valuation information, estimates and assumptions available on September 30, 2015 . Verso is still in the process of verifying data and finalizing information related to the valuation of intangible assets, fixed assets, and pension obligations and expects to finalize these matters within the fourth quarter of 2015 as final asset and liability valuations are completed. The valuations reflected herein consist of physical appraisals, discounted cash flow analyses, or other appropriate valuation techniques to determine the fair value of the assets acquired and liabilities assumed. We did not identify a material amount of goodwill as a result of the preliminary purchase price allocation. Although management believes that the preliminary purchase price allocation herein is reasonable, there can be no assurance that finalization of such purchase price allocation will not result in material changes from the preliminary purchase price allocation. The operating results of NewPage are included in Verso’s financial statements from January 7, 2015 through September 30, 2015 . The determination of net sales and net loss attributable to the acquired operations during this period and included in Verso’s Unaudited Condensed Consolidated Statements of Operations was not practicable as the operations are integrated with the consolidated operations. The following unaudited pro forma financial information presents results as if the NewPage acquisition and the related financing, further described in Note 6, occurred on January 1, 2014. The historical consolidated financial information of Verso and NewPage has been adjusted in the pro forma information to give effect to pro forma events that are directly attributable to the transactions and factually supportable. As NewPage’s divestiture of its paper mills in Biron, Wisconsin, and Rumford, Maine, occurred prior to the acquisition of NewPage, their historical results have been excluded from the pro forma results below. The unaudited pro forma results do not reflect events that have occurred or may occur after the transactions, including the costs of any integration activities or benefits that may result from realization of future cost savings from operating efficiencies, or any revenue, tax, or other synergies expected to result from the NewPage acquisition. Accordingly, the unaudited pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transactions been effected on the assumed date, nor is it necessarily an indication of future operating results. In addition, the NewPage acquisition did not result in a taxable transaction and Verso has net operating loss carryforwards and a related full valuation allowance that are expected to offset any deferred tax impact of the NewPage acquisition. Further, as the sale of the Bucksport mill was not directly attributable to the NewPage acquisition, no pro forma adjustments for the Bucksport sale have been made. Pro Forma Nine Months Ended (Unaudited) September 30, (Dollars in millions, except per share data) 2015 2014 Revenues $ 2,399 $ 2,731 Net loss (265 ) (318 ) Earnings per share - basic and diluted $ (3.24 ) $ (3.90 ) Weighted-average common shares outstanding - basic and diluted (in thousands) 81,720 81,496 Sale of Bucksport Mill - On January 29, 2015, two Verso subsidiaries consummated a sale of their equity interests in two other Verso subsidiaries that owned the Bucksport mill and related assets to AIM Development (USA) LLC, an indirect, wholly owned subsidiary of American Iron & Metal Company Inc., or “AIM.”

INTANGIBLES AND OTHER ASSETS

INTANGIBLES AND OTHER ASSETS	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLES AND OTHER ASSETS	INTANGIBLES AND OTHER ASSETS The following table summarizes intangibles and other assets: VERSO VERSO HOLDINGS September 30, December 31, September 30, December 31, (Dollars in millions) 2015 2014 2015 2014 Amortizable intangible assets: Customer relationships, net of accumulated amortization of $10 million on September 30, 2015, and $9 million on December 31, 2014 $ 33 $ 4 $ 33 $ 4 Unamortizable intangible assets: Trademarks 10 10 10 10 Other assets: Financing costs, net of accumulated amortization of $23 million on September 30, 2015, and $19 million on December 31, 2014 19 23 19 23 Deferred major repair 35 21 35 21 Replacement parts, net 6 3 6 3 Loan to affiliate — — 23 23 Restricted cash 3 3 3 3 Other 23 7 16 7 Total other assets $ 86 $ 57 $ 102 $ 80 Intangibles and other assets, net $ 129 $ 71 $ 145 $ 94 Amortization expense of intangibles was not material for the three-month period ended September 30, 2015 and $1 million for the nine-month period ended September 30, 2015 . Amortization expense of intangibles was not material for the three-month and nine-month periods ended September 30, 2014 . The estimated future amortization expense for intangible assets over the next five years is as follows: (Dollars in millions) 2015 $ 1 2016 2 2017 2 2018 2 2019 2

DEBT

DEBT	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
DEBT	DEBT A summary of debt is as follows: September 30, 2015 December 31, 2014 Original Interest Par Par (Dollars in millions) Maturity Rate Balance Value Balance Value Verso Holdings Verso Androscoggin Power LLC Revolving 2/6/2015 — % $ — $ — $ 30 $ 30 Revolving Credit Facilities 5/4/2017 3.72 % 115 115 63 63 11.75% Senior Secured Notes - 2012 1/15/2019 11.75 % 424 418 424 418 11.75% Senior Secured Notes - 2015 1/15/2019 11.75 % 656 645 — — 11.75% Secured Notes 1/15/2019 11.75 % 272 272 272 272 13% Second Priority Senior Secured Notes 8/1/2020 13.00 % 272 181 299 299 16% Senior Subordinated Notes 8/1/2020 16.00 % 89 65 102 102 8.75% Second Priority Senior Secured Notes 2/1/2019 8.75 % 96 97 96 97 11.38% Senior Subordinated Notes 8/1/2016 11.38 % 41 41 41 41 Chase NMTC Verso Investment Fund LLC Loan from Verso Finance 12/29/2040 6.50 % 23 23 23 23 NewPage Corp Revolving Credit Facility 2/11/2019 2.75 % 238 238 — — Floating Rate Senior Secured Term Loan 2/11/2021 9.50 % 707 734 — — Total debt for Verso Holdings $ 2,933 $ 2,829 $ 1,350 $ 1,345 Verso Finance Loan from Verso Holdings 12/29/2040 6.50 % 23 23 23 23 Less current maturities of long-term debt (72 ) (72 ) (30 ) (30 ) Less loans from affiliates (46 ) (46 ) (46 ) (46 ) Total long-term debt for Verso $ 2,838 $ 2,734 $ 1,297 $ 1,292 We determine the fair value of our long-term debt based on market information and a review of prices and terms available for similar obligations. Our debt is classified as Level 2 within the fair value hierarchy (see Note 9). As of September 30, 2015 , the fair value of Verso’s total debt was $1,129 million , and the fair value of Verso Holdings’ total debt was $1,152 million . As of December 31, 2014 , the fair value of Verso’s total debt was $1,059 million , and the fair value of Verso Holdings’ total debt was $1,082 million . Amounts included in interest expense related to long-term debt and amounts of cash interest payments on long-term debt are as follows: VERSO Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2014 2015 2014 Interest expense $ 67 $ 34 $ 198 $ 102 Cash interest paid 118 48 223 115 Debt issuance cost amortization (1) 2 2 4 6 VERSO HOLDINGS Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2014 2015 2014 Interest expense $ 67 $ 35 $ 199 $ 103 Cash interest paid 118 49 224 117 Debt issuance cost amortization (1) 2 2 4 6 (1) Amortization of debt issuance cost is included in interest expense. Verso Holdings Revolving Credit Facilities. In 2012, Verso Holdings’ entered into revolving credit facilities consisting of a $150 million asset-based loan facility, or “ABL Facility,” and a $50 million cash-flow facility, or “Cash Flow Facility.” Verso Holdings’ ABL Facility had $66 million outstanding, $30 million in letters of credit issued, and $8 million available for future borrowing as of September 30, 2015 . Verso Holdings’ Cash Flow Facility had $50 million outstanding balance, no letters of credit issued, and no availability for future borrowing as of September 30, 2015 . The indebtedness under the revolving credit facilities bear interest at a floating rate based on a margin over a base rate or LIBOR. As of September 30, 2015 , the weighted-average interest rate on outstanding advances was 3.72% . Verso Holdings is required to pay a commitment fee to the lenders in respect of the unused commitments under the ABL Facility at an annual rate of either 0.375% or 0.50% , based on daily average utilization, and under the Cash Flow Facility at an annual rate of 0.625% . The indebtedness under each of the revolving credit facilities is guaranteed, jointly and severally, by Verso Finance and each of Verso Holdings’ subsidiaries, subject to certain exceptions, and the indebtedness and guarantees are senior secured obligations of Verso Holdings and the guarantors, respectively. The indebtedness under the ABL Facility and related guarantees are secured by first-priority security interests, subject to permitted liens, in substantially all of Verso Holdings’, Verso Finance’s, and the subsidiary guarantors’ (excluding, among other subsidiaries, NewPage Investment Company and its subsidiaries) inventory and accounts receivable, or “Verso ABL Priority Collateral,” and second-priority security interests, subject to permitted liens, in substantially all of their other assets, or “Notes Priority Collateral.” The indebtedness under the Cash Flow Facility and related guarantees are secured, pari passu with the 2012 First Lien Notes and the 2015 First Lien Notes (each as defined below) and related guarantees, by first-priority security interests in the Notes Priority Collateral and second-priority security interests in the Verso ABL Priority Collateral. The revolving credit facilities will mature on May 4, 2017 . On January 3, 2014, Verso Holdings entered into certain amendments to the revolving credit facilities in connection with the NewPage acquisition, in which (a) the lenders under each of our revolving credit facilities consented to the NewPage acquisition and the other transactions contemplated by the Merger Agreement, including the incurrence of certain additional indebtedness, (b) the lenders consented to amendments to allow the sale and/or financing of certain non-core assets and (c) the parties agreed to amend our revolving credit facilities to allow for certain other transactions upon the consummation of the NewPage acquisition and the other transactions contemplated by the Merger Agreement. 11.75% Senior Secured Notes due 2019. In 2012, Verso Holdings issued $345 million aggregate principal amount of 11.75% Senior Secured Notes due 2019 . In 2013, Verso Holdings issued an additional $73 million aggregate principal amount of its 11.75% Senior Secured Notes due 2019 to certain lenders holding approximately $86 million aggregate principal amount of Verso Finance’s senior unsecured term loans, and net accrued interest through the closing date, at an exchange rate of 85%, in exchange for the assignment to Verso Finance of its senior unsecured term loans and the cancellation of such loans. The 11.75% Senior Secured Notes due 2019 issued in 2012 and 2013 constitute one class of securities and are referred to herein as the “2012 First Lien Notes.” The 2012 First Lien Notes bear interest, payable semi-annually, at the rate of 11.75% per year. The 2012 First Lien Notes are guaranteed, jointly and severally, on a senior secured basis, by each of Verso Holdings’ existing domestic subsidiaries that guarantee the ABL Facility and the Cash Flow Facility and by each of its future domestic subsidiaries that guarantees certain of its debt or issues disqualified stock. The 2012 First Lien Notes and related guarantees are senior secured obligations of Verso Holdings and the guarantors, respectively. The 2012 First Lien Notes and related guarantees are secured, pari passu with the Cash Flow Facility and related guarantees, by first-priority security interests in the Notes Priority Collateral and second-priority security interests in the Verso ABL Priority Collateral. The 2012 First Lien Notes will mature on January 15, 2019 . On January 7, 2015, in connection with the consummation of the NewPage acquisition, Verso Holdings issued $650 million aggregate principal amount of 11.75% Senior Secured Notes due 2019, or the “2015 First Lien Notes,” to the stockholders of NewPage as partial consideration in the NewPage acquisition. The 2015 First Lien Notes constitute a separate class of securities from the 2012 First Lien Notes. The 2015 First Lien Notes bear interest, payable semi-annually, at the rate of 11.75% per year. The 2015 First Lien Notes are guaranteed, jointly and severally, on a senior secured basis, by each of Verso Holdings’ existing domestic subsidiaries that guarantee the ABL Facility and the Cash Flow Facility and by each of its future domestic subsidiaries that guarantees certain of its debt or issues disqualified stock (including NewPage Holdings Inc., but not guaranteed by any of its subsidiaries). The 2015 First Lien Notes and the related guarantees are secured, pari passu with the Cash Flow Facility and related guarantees, by first-priority security interests in the Notes Priority Collateral and second-priority security interests in the Verso ABL Priority Collateral. The 2015 First Lien Notes will mature on January 15, 2019 . 11.75% Secured Notes due 2019. In 2012, Verso Holdings issued $272 million aggregate principal amount of 11.75% Secured Notes due 2019, or the “1.5 Lien Notes”. The 1.5 Lien Notes bear interest, payable semi-annually, at the rate of 11.75% per year. The 1.5 Lien Notes are guaranteed, jointly and severally, by each of Verso Holdings’ existing domestic subsidiaries that guarantee the ABL Facility and the Cash Flow Facility and by each of its future domestic subsidiaries that guarantees certain of its debt or issues disqualified stock. The 1.5 Lien Notes and related guarantees are senior secured obligations of Verso Holdings and the guarantors, respectively. The 1.5 Lien Notes and related guarantees are secured by security interests, subject to permitted liens, in substantially all of Verso Holdings’ and the guarantors’ tangible and intangible assets. The 1.5 Lien Notes and related guarantees are secured by liens that rank junior to those securing the obligations under the ABL Facility, the Cash Flow Facility, the 2012 First Lien Notes and the 2015 First Lien Notes and rank senior to those securing the New Second Lien Notes (as defined below). The 1.5 Lien Notes will mature on January 15, 2019 . 13% Second Priority Senior Secured Notes due 2020. On July 2, 2014, Verso Holdings commenced an offer to exchange any and all of the Verso Holdings’ outstanding 8.75% Second Priority Senior Secured Notes due 2019, or “Old Second Lien Notes,” for Second Priority Adjustable Senior Secured Notes, or “New Second Lien Notes,” and warrants issued by Verso that were mandatorily convertible on a one-for-one basis into shares of Verso’s common stock immediately prior to the NewPage acquisition, or “Warrants” (we refer to this exchange offer as the “Second Lien Notes Exchange Offer”). On August 1, 2014, approximately $299 million aggregate principal amount of Old Second Lien Notes were tendered and accepted in exchange for a like amount of New Second Lien Notes and approximately 9.3 million Warrants in the Second Lien Notes Exchange Offer. The Warrants had no fair value at the date of the closing of the Second Lien Notes Exchange Offer. The New Second Lien Notes and related guarantees are secured by liens that rank junior to those securing the obligations under the ABL Facility, the Cash Flow Facility, the 2012 First Lien Notes, the 2015 First Lien Notes and the 1.5 Lien Notes. On January 7, 2015, in connection with the consummation of the NewPage acquisition, the provisions of the New Second Lien Notes were adjusted as follows: (a) the principal amount was adjusted such that a holder of $1,000 principal amount of New Second Lien Notes immediately prior to the NewPage acquisition now holds $593.75 principal amount of New Second Lien Notes (and any adjusted New Second Lien Notes that did not bear an authorized denomination were rounded down); (b) the maturity date was extended from February 1, 2019, to August 1, 2020; (c) the interest rate was adjusted such that the New Second Lien Notes bear interest, payable semi-annually, from and after January 7, 2015 at a rate of 10% per year payable entirely in cash plus 3% per year payable entirely by increasing the principal amount of the outstanding New Second Lien Notes or by issuing additional New Second Lien Notes, as compared to an interest rate of 8.75% per year payable in cash prior to such adjustment; (d) the optional redemption provisions were adjusted as provided in the indenture governing the New Second Lien Notes; and (e) certain other terms and conditions of the New Second Lien Notes were modified as set forth in the indenture governing the New Second Lien Notes. As a result of the principal adjustment, the outstanding principal amount of the New Second Lien Notes was reduced by approximately $121 million from approximately $299 million before January 7, 2015, to approximately $178 million afterwards. 8.75% Second Priority Senior Secured Notes due 2019 . In 2011, Verso Holdings issued $396 million aggregate principal amount of Old Second Lien Notes. On August 1, 2014, approximately $299 million aggregate principal amount of Old Second Lien Notes were tendered and accepted in exchange for a like amount of New Second Lien Notes and approximately 9.3 million Warrants in the Second Lien Notes Exchange Offer. Following the settlement of the Second Lien Notes Exchange Offer, approximately $97 million aggregate principal amount of the Old Second Lien Notes remain outstanding. The Old Second Lien Notes bear interest, payable semi-annually, at the rate of 8.75% per year. The Old Second Lien Notes are guaranteed, jointly and severally, by each of Verso Holdings’ existing domestic subsidiaries that guaranteed the ABL Facility and the Cash Flow Facility as of the Second Lien Notes Exchange Offer, subject to certain exceptions. As of August 1, 2014, the Old Second Lien Notes were amended by a supplemental indenture so as to (a) eliminate or waive substantially all of the restrictive covenants contained in the indenture governing such notes, (b) eliminate certain events of default, (c) modify covenants regarding mergers and consolidations, and (d) modify or eliminate certain other provisions, including, in some cases, certain provisions relating to defeasance, contained in such indenture and such notes. In addition, as of August 1, 2014, the Old Second Lien Notes are no longer secured by any collateral. The Old Second Lien Notes will mature on February 1, 2019 . 16% Senior Subordinated Notes due 2020. On July 2, 2014, Verso Holdings also commenced an offer to exchange any and all of Verso Holdings’ outstanding 11.38% Senior Subordinated Notes due 2016, or “Old Subordinated Notes” for Adjustable Senior Subordinated Notes, or “New Subordinated Notes,” and Warrants (we refer to this exchange offer as the “Subordinated Notes Exchange Offer”). On August 1, 2014, approximately $102 million aggregate principal amount of Old Subordinated Notes were tendered and accepted in exchange for a like amount of New Subordinated Notes and approximately 5.4 million Warrants in the Subordinated Notes Exchange Offer. The Warrants had no fair value at the date of the closing of the Subordinated Notes Exchange Offer. On January 7, 2015, in connection with the consummation of the NewPage acquisition, the provisions of the New Subordinated Notes were adjusted as follows: (a) the principal amount was adjusted such that a holder of $1,000 principal amount of New Subordinated Notes immediately prior to the NewPage acquisition now holds $620 principal amount of New Subordinated Notes (and any adjusted New Subordinated Notes that did not bear an authorized denomination were rounded down); (b) the maturity date of the New Subordinated Notes was extended from August 1, 2016, to August 1, 2020; (c) the interest rate has been adjusted such that the New Subordinated Notes bear interest from and after January 7, 2015 at a rate of 11% per year payable entirely in cash plus 5% per year payable entirely by increasing the principal amount of the outstanding New Subordinated Notes or by issuing additional New Subordinated Notes, as compared to an interest rate of 11.38% per year payable in cash prior to such adjustment; (d) the optional redemption provisions were adjusted as provided in the indenture governing the New Subordinated Notes; and (e) certain other terms and conditions of the New Subordinated Notes were modified as set forth in the indenture governing the New Subordinated Notes. As a result of the principal adjustment, the outstanding principal amount of the New Subordinated Notes was reduced by approximately $39 million from approximately $102 million before January 7, 2015, to approximately $63 million afterwards. 11.38% Senior Subordinated Notes due 2016 . In 2006, Verso Holdings issued $300 million aggregate principal amount of Old Subordinated Notes. On August 1, 2014, approximately $102 million aggregate principal amount of the Old Subordinated Notes were tendered and accepted in exchange for a like amount of New Subordinated Notes and approximately 5.4 million Warrants in the Subordinated Notes Exchange Offer. Following the settlement of the Subordinated Notes Exchange Offer, approximately $41 million aggregate principal amount of the Old Subordinated Notes remain outstanding. The Old Subordinated Notes bear interest, payable semi-annually, at the rate of 11.38% per year. The Old Subordinated Notes are guaranteed, jointly and severally, by each of Verso Holdings’ existing domestic subsidiaries that guarantee the ABL Facility and Cash Flow Facility, as of the Subordinated Notes Exchange Offer, subject to certain exceptions. The Old Subordinated Notes and related guarantees are unsecured senior subordinated obligations of Verso Holdings and the guarantors, respectively. As of August 1, 2014, the Old Subordinated Notes were amended by a supplemental indenture so as to (a) eliminate or waive substantially all of the restrictive covenants contained in the indenture governing such notes, (b) eliminate certain events of default, (c) modify covenants regarding mergers and consolidations, and (d) modify or eliminate certain other provisions, including, in some cases, certain provisions relating to defeasance, contained in such indenture and such notes. The Old Subordinated Notes will mature on August 1, 2016 . Verso Androscoggin Power LLC Revolving Credit Facility. On May 5, 2014, acting through a wholly owned subsidiary, Verso Androscoggin Power LLC, or “VAP,” Verso Holdings entered into a credit agreement providing for a revolving credit facility with Barclays Bank PLC and Credit Suisse AG, Cayman Islands Branch. On January 7, 2015, Verso consummated the NewPage acquisition, and as a result, the credit facility was terminated on February 4, 2015. Loan from Verso Finance / Verso Holdings . In 2010, Verso Quinnesec REP LLC, an indirect, wholly-owned subsidiary of Verso Holdings, entered into a financing transaction with Chase NMTC Verso Investment Fund, LLC, or the “Investment Fund,” a consolidated variable interest entity. Under this arrangement, Verso Holdings loaned $23 million to Verso Finance at an interest rate of 6.5% per year and with a maturity of December 29, 2040 , and Verso Finance, in turn, loaned the funds on similar terms to the Investment Fund. The Investment Fund then contributed the loan proceeds to certain community development entities, which, in turn, loaned the funds on similar terms to Verso Quinnesec REP LLC as partial financing for the renewable energy project at our mill in Quinnesec, Michigan. Loan from NewPage Corp. On July 14, 2015, NewPage Corp entered into a $60 million inter-company revolving credit facility with VAP. The loan bears interest at a floating Eurocurrency rate plus a 4.75% margin, matures on January 6, 2018, and is guaranteed by Verso Maine Power Holdings LLC, or “VMPH,” with such guaranty being secured by a pledge of VMPH’s member interest in VAP. We have used the borrowings under the credit facility for working capital and other general corporate purposes. As of September 30, 2015 , there was no outstanding balance on the loan. NewPage Corp Revolving Credit Facility. On February 11, 2014, NewPage Corp entered into a $350 million senior secured asset-backed revolving credit facility, or the “NewPage ABL Facility.” As of September 30, 2015 , the NewPage ABL Facility had $238 million outstanding balance, $52 million letters of credit issued, and $54 million available for future borrowing. Amounts drawn under the NewPage ABL Facility bear annual interest at either the LIBOR rate plus a margin of 1.75% to 2.25% per year or at a base rate plus a margin of 0.75% to 1.25% per year. The interest rate margins on the NewPage ABL Facility are subject to adjustments based on the daily average availability of the NewPage ABL Facility. As of September 30, 2015 , the weighted-average interest rate on outstanding advances was 2.75% . NewPage Corp is required to pay a commitment fee to the lenders in respect of the unutilized commitments under the revolving credit facilities and other customary fees. The security interest with respect to the NewPage ABL Facility consists of a first-priority lien with respect to most inventory, accounts receivable, bank accounts, and certain other assets of NewPage Corp, or “NewPage ABL Priority Collateral,” and a second-priority lien with respect to all other NewPage Corp assets, or “NewPage Term Loan Priority Collateral.” The NewPage ABL Facility will mature on February 11, 2019 . The issuers and guarantors of Verso Holdings’ debt securities and the borrower and guarantors of Verso Holdings’ credit facilities do not guarantee the obligations under the NewPage ABL Facility, and the borrower and the guarantors under the NewPage ABL Facility do not guarantee the obligations under Verso Holdings’ debt securities and credit facilities. Floating Rate Senior Secured Term Loan. On February 11, 2014, NewPage Corp entered into a $750 million term loan facility, or “NewPage Term Loan Facility.” Amounts drawn under the NewPage Term Loan Facility bear annual interest at either the LIBOR rate plus a margin of 8.25% per year or at a base rate plus a margin of 7.25% per year. The interest in effect for the NewPage Term Loan Facility at September 30, 2015 was 9.50% per year. The security interest with respect to the NewPage Term Loan Facility consists of a first-priority lien with respect to the NewPage Term Loan Priority Collateral and a second-priority lien with respect to the NewPage ABL Priority Collateral. The NewPage Term Loan Facility has scheduled principal payments due quarterly that began on September 30, 2015. However, NewPage Corp has the right to prepay loans under the NewPage Term Loan Facility at any time without premium or penalty, other than customary “breakage” costs with respect to LIBOR rate loans, subject, however, to a prepayment premium for optional prepayments of the NewPage Term Loan Facility with a new or replacement term loan facility with an “effective” interest rate less than that applicable to the NewPage Term Loan Facility equal to (1) 2.00% if prepaid on or after the first anniversary of the closing date and prior to the second anniversary of the closing date and (2) 1.00% if prepaid on or after the second anniversary of the closing date and prior to the third anniversary of the closing date. The NewPage Term Loan Facility is subject to mandatory prepayments in amounts equal to (1) 100% of the net cash proceeds of indebtedness by NewPage Corp or any of its subsidiary guarantors other than indebtedness permitted under the NewPage Term Loan Facility, (2) 100% of the net cash proceeds of any non-ordinary course sale or other disposition of assets by NewPage Corp or any of its subsidiary guarantors (including as a result of casualty or condemnation) (with customary exceptions, thresholds, and reinvestment rights of up to 12 months or 18 months if contractually committed to within 12 months), and (3) 75% of “excess cash flow” for each fiscal year beginning with the fiscal year ending December 31, 2015, subject to possible step-downs based on total net first lien leverage ratio thresholds. As such, immediately prior to the NewPage acquisition on January 7, 2015, $16 million in proceeds from the sale of Biron and Rumford mills were used to pay the September 2015 scheduled principal payment and a portion of the December 2015 scheduled principal payment on the NewPage Term Loan Facility, leaving $3 million due in December 2015. Quarterly installments due are $9 million for each quarter ending in 2016, $14 million for each quarter ending in 2017 and $19 million for each quarter ending in 2018 through 2020 with the remaining balance due on February 11, 2021. The NewPage Term Loan Facility will mature on February 11, 2021. The issuers and guarantors of Verso Holdings’ debt securities and the borrower and guarantors of Verso Holdings’ credit facilities do not guarantee the obligations under the NewPage Term Loan Facility, and the borrower and the guarantors under the NewPage Term Loan Facility do not guarantee the obligations under Verso Holdings’ debt securities and credit facilities. As of September 30, 2015 , both Verso Holdings and NewPage Corp were in compliance with the covenants in their respective debt agreements (see Note 1).

RETIREMENT AND OTHER POSTRETIRE

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
RETIREMENT AND OTHER POSTRETIREMENT BENEFITS	RETIREMENT AND OTHER POSTRETIREMENT BENEFITS We maintain various defined benefit pension and other postretirement benefit plans that provide retirement benefits for certain current and former hourly employees. The pension plans provide defined benefits based on years of credited service times a specified flat dollar benefit rate. Since the completion of the NewPage acquisition, we have maintained a cash balance defined benefit pension plan for salaried employees, a defined benefit pension plan for hourly employees, and a plan covering other post-retirement and post-employment benefits for certain employees, or “OPEB.” The following table summarizes the components of net periodic benefit cost of our pension plans for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2014 2015 2014 Service cost $ 3 $ 1 $ 9 $ 4 Interest cost 17 1 49 3 Expected return on plan assets (21 ) (1 ) (62 ) (3 ) Amortization of prior service cost — 1 — 1 Amortization of actuarial loss — — 1 — Net periodic benefit cost $ (1 ) $ 2 $ (3 ) $ 5 The estimated net actuarial loss and prior service cost that are amortized from Accumulated other comprehensive loss and into Net periodic pension cost are classified into Cost of products sold on our accompanying Unaudited Condensed Consolidated Statements of Operations. We make contributions that are sufficient to fully fund our actuarially determined costs, generally equal to the minimum amounts required by the Employee Retirement Income Security Act. For the three-month and nine-month periods ended September 30, 2015 , we made contributions to the pension plans of approximately $10 million and $23 million , respectively. We expect to make cash contributions of approximately $4 million to the pension plans in the remainder of 2015. For the three-month and nine-month periods ended September 30, 2014 , we made contributions to the pension plans of approximately $5 million and $7 million , respectively. The OPEB obligations of NewPage Corp provide other retirement and post-employment benefits for certain employees, which may include healthcare benefits for certain retirees prior to their reaching age 65, healthcare benefits for certain retirees on and after their reaching age 65, long-term disability benefits, continued group life insurance and extended health and dental benefits. These benefits are provided through various employer- and/or employee-funded postretirement benefit plans. The following table summarizes the components of net periodic benefit cost of our OPEB obligations for the three-month and nine-month periods ended September 30, 2015 : Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2015 Service cost $ — $ — Interest cost — 1 Net periodic benefit cost $ — $ 1

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGES	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGES	DERIVATIVE INSTRUMENTS AND HEDGES In the normal course of business, we utilize derivative contracts as part of our risk management strategy to manage our exposure to market fluctuations in energy prices. These instruments are subject to credit and market risks in excess of the amount recorded on the balance sheet in accordance with GAAP. Controls and monitoring procedures for these instruments have been established and are routinely reevaluated. Credit risk represents the potential loss that may occur because a party to a transaction fails to perform according to the terms of the contract. The measure of credit exposure is the replacement cost of contracts with a positive fair value. We manage credit risk by entering into financial instrument transactions only through approved counterparties. Market risk represents the potential loss due to the decrease in the value of a financial instrument caused primarily by changes in commodity prices. We manage market risk by establishing and monitoring limits on the types and degree of risk that may be undertaken. Derivative instruments are recorded on the balance sheet as other assets or other liabilities measured at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied. We enter into fixed-price energy swaps as hedges designed to mitigate the risk of changes in commodity and delivery prices for forecasted future purchase commitments. These fixed-price swaps involve the exchange of net cash settlements, based on changes in the price of the underlying commodity index compared to the fixed price offering, at specified intervals without the exchange of any underlying principal. All gains and losses from changes in the fair value of our derivative contracts that are not designated as hedging instruments are recognized immediately in Cost of products sold. The following table presents information about the volume and fair value amounts of our derivative instruments: September 30, 2015 December 31, 2014 Fair Value Assets/(Liabilities) Fair Value Assets/(Liabilities) (Dollars in millions) MMBTUs MMBTUs Derivative contracts not currently designated as hedging instruments: Fixed price energy swaps: Notional amount 2,280,000 1,876,475 Accrued liabilities $ (3 ) $ (6 ) The following table presents information about the effect of our derivative instruments on the Unaudited Condensed Consolidated Statements of Operations: (Loss) Gain Recognized on Derivatives Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Derivative contracts not currently designated as hedging instruments: Fixed price energy swaps $ (1 ) $ 3 $ (3 ) $ 15 (Loss) gain recognized on derivatives is included in Cost of products sold.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS We use fair value measurements for the initial recording of certain assets and liabilities, periodic remeasurement of certain assets and liabilities, and disclosures. Fair value is generally defined as the exit price at which an asset or liability could be exchanged in a current transaction between willing, unrelated parties, other than in a forced or liquidation sale. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions used to value the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: ▪ Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. ▪ Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. ▪ Level 3: Unobservable inputs reflecting management’s own assumption about the inputs used in pricing the asset or liability at the measurement date. The following table summarizes the balances of assets and liabilities measured at fair value on a recurring basis: (Dollars in millions) Total Level 1 Level 2 Level 3 September 30, 2015 Assets: Investments related to deferred compensation plans $ 4 $ 4 $ — $ — Liabilities: Commodity swaps $ 3 $ — $ 3 $ — December 31, 2014 Assets: Investments related to deferred compensation plans $ 4 $ 4 $ — $ — Liabilities: Commodity swaps $ 6 $ — $ 6 $ — Fair values are based on observable market data.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Management Agreement — In connection with the acquisition of our business from International Paper Company on August 1, 2006, we entered into a management agreement with certain affiliates of Apollo Global Management, LLC, or “Apollo,” our largest stockholder, relating to the provision of certain financial and strategic advisory services and consulting services, which will expire on August 1, 2018 . Under the management agreement, at any time prior to the expiration of the agreement, Apollo has the right to act, in return for fees to be mutually agreed by the parties to the management agreement, as our financial advisor or investment banker for any merger, acquisition, disposition, financing or the like if we decide to engage someone to fill such role. In the event that we are not able to come to an agreement with Apollo in connection with such role, at the closing of any merger, acquisition, disposition or financing or any similar transaction, we have agreed to pay Apollo a fee equal to 1% of the aggregate enterprise value (including the aggregate value of equity securities, warrants, rights and options acquired or retained; indebtedness acquired, assumed or refinanced; and any other consideration or compensation paid in connection with such transaction). We agreed to indemnify Apollo and its affiliates and their directors, officers and representatives for losses relating to the services contemplated by the management agreement and the engagement of affiliates of Apollo pursuant to, and the performance by them of the services contemplated by, the management agreement. We made no payments to Apollo related to the management agreement in the three-month and nine-month periods ended September 30, 2015 and 2014 , respectively. Verso Quinnesec Renewable Energy Project — On December 29, 2010, Verso Quinnesec REP LLC, an indirect, wholly owned subsidiary of Verso Holdings, entered into a financing transaction with Chase NMTC Verso Investment Fund, LLC, or the “Investment Fund,” a consolidated variable interest entity (see Note 12 ). Under this arrangement, Verso Holdings loaned $23 million to Verso Finance at an interest rate of 6.5% per year and with a maturity of December 29, 2040 , and Verso Finance, in turn, loaned the funds on similar terms to the Investment Fund. The Investment Fund then contributed the loan proceeds to certain community development entities, which, in turn, loaned the funds on similar terms to Verso Quinnesec REP LLC as partial financing for the renewable energy project at our mill in Quinnesec, Michigan. As of both September 30, 2015 and December 31, 2014 , Verso Holdings had a $23 million long-term receivable due from Verso Finance, representing these funds and immaterial accrued interest receivable, while the Investment Fund had an outstanding loan of $23 million due to Verso Finance and immaterial accrued interest payable. For both the three-month period s ended September 30, 2015 and 2014 , Verso Holdings recognized immaterial interest income from Verso Finance and the Investment Fund recognized immaterial interest expense to Verso Finance. For both the nine-month periods ended September 30, 2015 and 2014 , Verso Holdings recognized approximately $ 1 million in interest income from Verso Finance and the Investment Fund recognized approximately $1 million in interest expense to Verso Finance. Transactions with Affiliates — We transact business with affiliates of Apollo from time to time. Our product sales to Apollo affiliates were approximately $11 million and $23 million for the three-month and nine-month periods ended September 30, 2015 , respectively, and our related accounts receivable were approximately $3 million as of September 30, 2015 . Our product purchases from Apollo affiliates were negligible in the reporting periods.

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES Bucksport Mill Closure - On October 1, 2014, Verso announced plans to close our paper mill in Bucksport, Maine, and we ceased paper manufacturing operations in December 2014. The mill closure reduced Verso’s coated groundwood paper production capacity by approximately 350,000 tons and its specialty paper production capacity by approximately 55,000 tons. The following table details the charges incurred related primarily to the Bucksport mill closure in 2014 and attributable to the paper segment as included in Restructuring charges on our accompanying Unaudited Condensed Consolidated Statements of Operations: Nine Months Ended September 30, (Dollars in millions) 2015 Cumulative Property and equipment - impairment $ — $ 89 Severance and benefit costs 2 29 Write-off of spare parts and inventory — 14 Write-off of purchase obligations and commitments 6 8 Other miscellaneous costs 4 7 Total restructuring costs $ 12 $ 147 The following details the changes in our restructuring reserve liabilities related to the Bucksport shutdown during the nine months ended September 30, 2015 , which are included in Accrued liabilities on our Unaudited Condensed Consolidated Balance Sheets: Nine Months Ended September 30, (Dollars in millions) 2015 Beginning balance of reserve $ 24 Severance and benefit payments (24 ) Purchase obligations 6 Payments on purchase obligations (8 ) Severance and benefit reserve adjustments 2 Ending balance of reserve $ — NewPage Acquisition Restructuring - As part of the NewPage acquisition, Verso is executing a restructuring of its operations to integrate the historical Verso and NewPage operations, generate cost savings and capture synergies across the combined company. The following table details the charges incurred related primarily to the NewPage acquisition and primarily attributable to the paper segment as included in Restructuring charges on our accompanying Unaudited Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2015 Cumulative Property and equipment - disposal $ 4 $ 4 $ 4 Severance and benefit costs — 16 16 Total restructuring costs $ 4 $ 20 $ 20 The following details the changes in our restructuring reserve liabilities related to the NewPage acquisition during the nine months ended September 30, 2015 , which are included in Accrued liabilities on our Unaudited Condensed Consolidated Balance Sheets: Nine Months Ended September 30, (Dollars in millions) 2015 Beginning balance of reserve $ — Severance and benefit costs 16 Severance and benefit payments (8 ) Ending balance of reserve $ 8 Androscoggin/Wickliffe Capacity Reduction - On August 20, 2015, Verso announced plans to make production capacity reductions at two of our mills by shutting down the No. 1 pulp dryer and No. 2 paper machine at our mill in Androscoggin, Maine, and by indefinitely idling our mill in Wickliffe, Kentucky. Together, these actions will reduce our production capacity by 430,000 tons of coated paper and 130,000 tons of dried market pulp. We began implementing these capacity reductions in the third quarter of 2015 and expect to complete them in the fourth quarter of 2015. The following table details the charges incurred related primarily to the Androscoggin/Wickliffe Capacity Reduction and primarily attributable to the paper segment as included in Restructuring charges on our accompanying Unaudited Condensed Consolidated Statements of Operations: Three Months Ended September 30, (Dollars in millions) 2015 Property and equipment - accelerated depreciation $ 34 Severance and benefit costs 15 Write-off of spare parts and inventory 1 Total restructuring costs $ 50 The following details the changes in our restructuring reserve liabilities related to the Androscoggin/Wickliffe Capacity Reduction during the nine months ended September 30, 2015 , which are included in Accrued liabilities on our Unaudited Condensed Consolidated Balance Sheets: Nine Months Ended September 30, (Dollars in millions) 2015 Beginning balance of reserve $ — Severance and benefit costs 15 Ending balance of reserve $ 15 There were no restructuring costs incurred during the nine months ended September 30, 2014 .

NEW MARKET TAX CREDIT ENTITIES

NEW MARKET TAX CREDIT ENTITIES	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NEW MARKET TAX CREDIT ENTITIES	NEW MARKET TAX CREDIT ENTITIES In December 2010, we entered into a financing transaction with Chase Community Equity, LLC, or “Chase,” related to a $43 million renewable energy project at our mill in Quinnesec, Michigan, in which Chase made a capital contribution and Verso Finance made a loan to Chase NMTC Verso Investment Fund, LLC, or the “Investment Fund,” under a qualified New Markets Tax Credit, or “NMTC,” program, provided for in the Community Renewal Tax Relief Act of 2000. By virtue of its contribution, Chase is entitled to substantially all of the benefits derived from the NMTCs. This transaction also includes a put/call provision whereby we may be obligated or entitled to repurchase Chase’s interest. We believe that Chase will exercise the put option in December 2017 at the end of the recapture period. The value attributed to the put/call is de minimis. The NMTC is subject to 100% recapture for a period of 7 years as provided in the Internal Revenue Code. We are required to be in compliance with various regulations and contractual provisions that apply to the NMTC arrangement. Non-compliance with applicable requirements could result in projected tax benefits not being realized and, therefore, could require us to indemnify Chase for any loss or recapture of NMTCs related to the financing until such time as our obligation to deliver tax benefits is relieved. We do not anticipate any credit recaptures will be required in connection with this arrangement. We have determined that the Investment Fund is a variable interest entity, or “VIE,” of which we are the primary beneficiary, and have consolidated it in accordance with the accounting standard for consolidation. Chase’s contribution, net of syndication fees, is included in Other liabilities in the accompanying Unaudited Condensed Consolidated Balance Sheets. Direct costs incurred in structuring the financing arrangement are deferred and will be recognized as expense over the term of the loans. Incremental costs to maintain the structure during the compliance period are recognized as incurred. The following table summarizes the impact of the VIE consolidated by Verso Holdings as of September 30, 2015 and December 31, 2014 : VERSO VERSO HOLDINGS September 30, December 31, September 30, December 31, (Dollars in millions) 2015 2014 2015 2014 Total assets $ — $ — $ 23 $ 23 Long-term debt — — 23 23 Other non-current liabilities 8 8 8 8 Total liabilities $ 8 $ 8 $ 31 $ 31 Amounts presented in the Unaudited Condensed Consolidated Balance Sheets and the table above are adjusted for intercompany eliminations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Expera Specialty Solutions, LLC — We are a party to a long-term supply agreement with Expera Specialty Solutions, LLC, or “Expera,” for the manufacture of specialty paper products on paper machine no. 5 at our Androscoggin mill in Jay, Maine. The agreement, which expires on June 1, 2017 , requires Expera to pay us a variable charge for the paper purchased and a fixed charge for the availability of the paper machine. We are responsible for the machine’s routine maintenance and Expera is responsible for any capital expenditures specific to the machine. Expera has the right to terminate the agreement if certain events occur. General Litigation — We are involved from time to time in legal proceedings incidental to the conduct of our business. We do not believe that any liability that may result from these proceedings will have a material adverse effect on our condensed consolidated financial statements.

INFORMATION BY INDUSTRY SEGMENT

INFORMATION BY INDUSTRY SEGMENT	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
INFORMATION BY INDUSTRY SEGMENT	INFORMATION BY INDUSTRY SEGMENT In January 2015, as a result of the NewPage acquisition, Verso reorganized its reportable segments as a result of a change in the way the Chief Executive Officer, who serves as the Chief Operating Decision Maker, or “CODM,” manages and evaluates the business. Based on the information that the CODM utilizes to manage and evaluate the business, it was determined that the operating segments represent two segments, paper and pulp. Our paper segment now includes the historical coated and other segments. As a result of these changes in segment reporting, all historical segment information has been revised to conform to the new presentation, with no resulting impact on the Unaudited Condensed Consolidated Statements of Operations. Our paper products are used primarily in media and marketing applications, including catalogs, magazines, and commercial printing applications such as high-end advertising brochures, annual reports, and direct-mail advertising. Our market kraft pulp is used to manufacture printing, writing, and specialty paper grades and tissue products. Our assets are utilized across segments in our integrated mill system and are not identified by segment or reviewed by management on a segment basis. We operate primarily in one geographic segment, North America. The following table summarizes the industry segment data for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2014 2015 2014 Net sales Paper $ 736 $ 313 $ 2,207 $ 851 Pulp 62 37 197 119 Intercompany eliminations (16 ) — (38 ) — Total $ 782 $ 350 $ 2,366 $ 970 Operating income (loss) Paper $ (38 ) $ 9 $ (70 ) $ (47 ) Pulp (5 ) 5 (24 ) 17 Total $ (43 ) $ 14 $ (94 ) $ (30 ) Depreciation, amortization, and depletion Paper $ 53 $ 20 $ 159 $ 62 Pulp 7 3 22 12 Total $ 60 $ 23 $ 181 $ 74 Capital expenditures Paper $ 18 $ 5 $ 39 $ 27 Pulp 5 2 9 7 Total $ 23 $ 7 $ 48 $ 34 Certain amounts in the prior year presentation have been reclassified to conform to the current year presentation.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED CONSOLIDATING FINANCIAL INFORMATION	CONDENSED CONSOLIDATING FINANCIAL INFORMATION Presented below are Verso Holdings’ Condensed Consolidating Balance Sheets, Condensed Consolidating Statements of Operations and Comprehensive Income, and Condensed Consolidating Statements of Cash Flows, as required by Rule 3-10 of Regulation S-X of the Securities Exchange Act of 1934, as amended. The Condensed Consolidating Financial Statements have been prepared from Verso Holdings’ financial information on the same basis of accounting as the Unaudited Condensed Consolidated Financial Statements. Investments in our subsidiaries are accounted for under the equity method. Accordingly, the entries necessary to consolidate Verso Holdings’ subsidiaries that guaranteed the obligations under the debt securities described below are reflected in the Eliminations column. Verso Holdings, or the “Parent Issuer,” and its direct, 100% owned subsidiary, Verso Paper Inc., or the “Subsidiary Issuer,” are the issuers of the 11.75% Senior Secured Notes due 2019 , the 11.75% Secured Notes due 2019 , the 13% Second Priority Senior Secured Notes due 2020, the 16% Senior Subordinated Notes due 2020, the 8.75% Second Priority Senior Secured Notes due 2019 , the 11.38% Senior Subordinated Notes due 2016 , or collectively, the “Notes.” In accordance with ASU 2013-04 related to joint and several liability arrangements, the Notes have been recorded by the Parent Issuer as it is the intent of the issuers for the Parent Issuer to settle the obligation. The Notes are jointly and severally guaranteed on a full and unconditional basis by the Parent Issuer’s direct and indirect, 100% owned subsidiaries, excluding the Subsidiary Issuer, the subsidiaries of NewPage Holdings Inc., Bucksport Leasing LLC, Verso Quinnesec REP LLC, Verso Bucksport Power LLC, and Verso Androscoggin Power LLC, or collectively, the “Guarantor Subsidiaries.” As of September 30, 2015 , NewPage Corporation is presented as a Non-Guarantor Subsidiary. Chase NMTC Verso Investment Fund, LLC, a consolidated VIE of Verso Holdings, and all other entities specifically aforementioned are in “Other Non-Guarantors.” Verso Paper Holdings LLC Condensed Consolidating Balance Sheet September 30, 2015 Parent Subsidiary Guarantor Non- Guarantor Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ — $ 3 $ 7 $ — $ — $ 10 Accounts receivable, net — — 74 183 — — 257 Current intercompany/affiliate receivable — — 10 16 — (26 ) — Inventories — — 115 425 — — 540 Prepaid expenses and other assets — — 5 29 — — 34 Total current assets — — 207 660 — (26 ) 841 Property, plant, and equipment, net — — 436 1,473 22 — 1,931 Intercompany/affiliate receivable 1,390 — 2 — 30 (1,422 ) — Intangibles and other assets, net (1) — — 81 68 1 (5 ) 145 Total assets $ 1,390 $ — $ 726 $ 2,201 $ 53 $ (1,453 ) $ 2,917 LIABILITIES AND MEMBER’S EQUITY Accounts payable $ — $ — $ 45 $ 125 $ — $ — $ 170 Current intercompany/affiliate payable — — 16 10 — (26 ) — Accrued liabilities 42 — 60 130 — — 232 Current maturities of long-term debt 41 — — 31 — — 72 Total current liabilities 83 — 121 296 — (26 ) 474 Intercompany/affiliate payable — — 1,390 — 32 (1,422 ) — Investment in subsidiaries 352 — 14 — — (366 ) — Long-term debt (2) 1,929 — — 914 23 (5 ) 2,861 Other liabilities — — 52 496 8 — 556 Member’s (deficit) equity (974 ) — (851 ) 495 (10 ) 366 (974 ) Total liabilities and equity $ 1,390 $ — $ 726 $ 2,201 $ 53 $ (1,453 ) $ 2,917 (1) Intangibles and other assets, net of Guarantor Subsidiaries include $23 million of a long-term note receivable from Verso Finance. (2) Long-term debt of Other Non-Guarantors is payable to Verso Finance. Verso Paper Holdings LLC Condensed Consolidating Balance Sheet December 31, 2014 Parent Subsidiary Guarantor Non- Guarantor Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ — $ 6 $ — $ — $ — $ 6 Accounts receivable, net — — 88 — — — 88 Inventories — — 110 — — — 110 Assets held for sale — — 60 — 1 — 61 Prepaid expenses and other assets — — 9 — 2 — 11 Total current assets — — 273 — 3 — 276 Property, plant, and equipment, net — — 508 — 23 — 531 Intercompany/affiliate receivable 1,397 — 2 — 58 (1,457 ) — Intangibles and other assets, net (1) — — 93 — 1 — 94 Total assets $ 1,397 $ — $ 876 $ — $ 85 $ (1,457 ) $ 901 LIABILITIES AND MEMBER’S EQUITY Accounts payable $ — $ — $ 63 $ — $ — $ — $ 63 Accrued liabilities 77 — 128 — 1 — 206 Current maturities of long-term debt — — — — 30 — 30 Liabilities related to assets held for sale — — 2 — — — 2 Total current liabilities 77 — 193 — 31 — 301 Intercompany/affiliate payable — — 1,423 — 34 (1,457 ) — Investment in subsidiaries 803 — 13 — — (816 ) — Long-term debt (2) 1,297 — — — 23 — 1,320 Other liabilities — — 52 — 8 — 60 Member’s (deficit) equity (780 ) — (805 ) — (11 ) 816 (780 ) Total liabilities and equity $ 1,397 $ — $ 876 $ — $ 85 $ (1,457 ) $ 901 (1) Intangibles and other assets, net of Guarantor Subsidiaries include $23 million of a long-term note receivable from Verso Finance. (2) Long-term debt of Other Non-Guarantors is payable to Verso Finance. Certain amounts in the prior year presentation have been reclassified to conform to the current year presentation. Verso Paper Holdings LLC Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended September 30, 2015 Parent Subsidiary Guarantor Non- Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net sales $ — $ — $ 264 $ 537 $ — $ (19 ) $ 782 Cost of products sold (exclusive of depreciation, amortization, and depletion) — — 219 477 — (19 ) 677 Depreciation, amortization, and depletion (exclusive of accelerated depreciation included in Restructuring charges) — — 15 45 — — 60 Selling, general, and administrative expenses — — 17 16 — — 33 Restructuring charges — — 53 2 — — 55 Other operating income — — (37 ) 37 — — — Interest income (47 ) — — — (1 ) 48 — Interest expense 47 — 48 20 1 (48 ) 68 Equity in net loss of subsidiaries (111 ) — — — — 111 — Loss before income taxes $ (111 ) $ — $ (51 ) $ (60 ) $ — $ 111 $ (111 ) Income tax benefit — — — — — — — Net loss $ (111 ) $ — $ (51 ) $ (60 ) $ — $ 111 $ (111 ) Other comprehensive income 1 — 1 — — (1 ) 1 Comprehensive loss $ (110 ) $ — $ (50 ) $ (60 ) $ — $ 110 $ (110 ) Verso Paper Holdings LLC Condensed Consolidating Statement of Operations and Comprehensive Income Nine Months Ended September 30, 2015 Parent Subsidiary Guarantor Non- Guarantor Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net sales $ — $ — $ 767 $ 1,640 $ 1 $ (42 ) $ 2,366 Cost of products sold (exclusive of depreciation, amortization, and depletion) — — 665 1,439 — (42 ) 2,062 Depreciation, amortization, and depletion (exclusive of accelerated depreciation included in Restructuring charges) — — 48 132 1 — 181 Selling, general, and administrative expenses — — 68 67 (1 ) — 134 Restructuring charges — — 70 13 — — 83 Other operating income — — (73 ) 73 — — — Interest income (142 ) — (1 ) — (1 ) 143 (1 ) Interest expense 142 — 142 59 2 (143 ) 202 Equity in net loss of subsidiaries (293 ) — — — — 293 — Loss before income taxes $ (293 ) $ — $ (152 ) $ (143 ) $ — $ 293 $ (295 ) Income tax benefit — — — (2 ) — — (2 ) Net loss $ (293 ) $ — $ (152 ) $ (141 ) $ — $ 293 $ (293 ) Other comprehensive income 2 — 2 — — (2 ) 2 Comprehensive loss $ (291 ) $ — $ (150 ) $ (141 ) $ — $ 291 $ (291 ) Verso Paper Holdings LLC Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended September 30, 2014 Parent Subsidiary Guarantor Non- Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net sales $ — $ — $ 350 $ — $ 1 $ (1 ) $ 350 Cost of products sold (exclusive of depreciation, amortization, and depletion) — — 295 — 1 (1 ) 295 Depreciation, amortization, and depletion — — 23 — — — 23 Selling, general, and administrative expenses — — 18 — — — 18 Interest income (36 ) — — — — 36 — Interest expense 36 — 35 — 2 (36 ) 37 Other loss, net — — 14 — — — 14 Equity in net loss of subsidiaries (37 ) — — — — 37 — Net loss $ (37 ) $ — $ (35 ) $ — $ (2 ) $ 37 $ (37 ) Other comprehensive income 1 — 1 — — (1 ) 1 Comprehensive loss $ (36 ) $ — $ (34 ) $ — $ (2 ) $ 36 $ (36 ) Certain amounts in the prior year presentation have been reclassified to conform to the current year presentation. Verso Paper Holdings LLC Condensed Consolidating Statement of Operations and Comprehensive Income Nine Months Ended September 30, 2014 Parent Subsidiary Guarantor Non- Guarantor Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net sales $ — $ — $ 970 $ — $ 2 $ (2 ) $ 970 Cost of products sold (exclusive of depreciation, amortization, and depletion) — — 874 — 1 (2 ) 873 Depreciation, amortization, and depletion — — 73 — 1 — 74 Selling, general, and administrative expenses — — 54 — (1 ) — 53 Interest income (106 ) — (1 ) — (1 ) 107 (1 ) Interest expense 106 — 104 — 5 (107 ) 108 Other loss, net — — 33 — — — 33 Equity in net loss of subsidiaries (170 ) — — — — 170 — Net loss $ (170 ) $ — $ (167 ) $ — $ (3 ) $ 170 $ (170 ) Other comprehensive income 1 — 1 — — (1 ) 1 Comprehensive loss $ (169 ) $ — $ (166 ) $ — $ (3 ) $ 169 $ (169 ) Certain amounts in the prior year presentation have been reclassified to conform to the current year presentation. Verso Paper Holdings LLC Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2015 Parent Subsidiary Guarantor Non- Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net cash used in operating activities $ — $ — $ (136 ) $ (148 ) $ — $ — $ (284 ) Cash flows from investing activities: Proceeds from sale of assets — — 50 1 — — 51 Transfers from (to) restricted cash — — — — 1 — 1 Capital expenditures — — (13 ) (35 ) — — (48 ) Acquisition, net of cash acquired — — — 128 — — 128 Acquisition of investment securities — — — (5 ) — — (5 ) Return of capital to Parent Issuer 73 — — — — (73 ) — Advances to subsidiaries (375 ) — — (51 ) — 426 — Payments from subsidiaries 250 — — 51 — (301 ) — Net cash (used in) provided by investing activities (52 ) — 37 89 1 52 127 Cash flows from financing activities: Borrowings on revolving credit facilities 169 — — 504 51 (51 ) 673 Payments on revolving credit facilities (117 ) — — (365 ) (81 ) 51 (512 ) Return of capital to Parent Issuer — — — (73 ) — 73 — Advances from parent — — 294 — 81 (375 ) — Payments to parent — — (198 ) — (52 ) 250 — Net cash provided by (used in) financing activities 52 — 96 66 (1 ) (52 ) 161 Change in cash and cash equivalents — — (3 ) 7 — — 4 Cash and cash equivalents at beginning of period — — 6 — — — 6 Cash and cash equivalents at end of period $ — $ — $ 3 $ 7 $ — $ — $ 10 Verso Paper Holdings LLC Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2014 Parent Subsidiary Guarantor Non-Guarantor Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net cash (used in) provided by operating activities $ — $ — $ (69 ) $ — $ — $ — $ (69 ) Cash flows from investing activities: Transfers from (to) restricted cash — — 2 — (1 ) — 1 Capital expenditures — — (34 ) — — — (34 ) Other investing activities — — 5 — — — 5 Advances to subsidiaries (278 ) — — — — 278 — Payments from subsidiaries 218 — — — — (218 ) — Net cash used in investing activities (60 ) — (27 ) — (1 ) 60 (28 ) Cash flows from financing activities: Borrowings on revolving credit facilities 240 — — — 100 — 340 Payments on revolving credit facilities (168 ) — — — (60 ) — (228 ) Repayment of long-term debt (13 ) — — — — — (13 ) Debt issuance costs — — — — (2 ) — (2 ) Contribution from Verso 1 — — — — — 1 Return of capital to Parent Issuer — — — — (1 ) 1 — Advances from parent — — 278 — — (278 ) — Payments to parent — — (181 ) — (36 ) 217 — Net cash provided by financing activities 60 — 97 — 1 (60 ) 98 Change in cash and cash equivalents — — 1 — — — 1 Cash and cash equivalents at beginning of period — — 11 — — — 11 Cash and cash equivalents at end of period $ — $ — $ 12 $ — $ — $ — $ 12 Certain amounts in the prior year presentation have been reclassified to conform to the current year presentation.

SUPPLEMENTAL FINANCIAL STATEM23

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reconciliation of Basic and Diluted Loss Per Common Share of Verso Paper	The following table provides a reconciliation of Verso’s basic and diluted loss per common share: VERSO Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Net loss available to common shareholders (in millions) $ (111 ) $ (36 ) $ (293 ) $ (169 ) Weighted average common shares outstanding (in thousands) 81,348 52,787 80,666 52,749 Weighted average restricted shares (in thousands) 494 541 433 531 Weighted average common shares outstanding - basic 81,842 53,328 81,099 53,280 Dilutive shares from stock options — — — — Weighted average common shares outstanding - diluted 81,842 53,328 81,099 53,280 Basic loss per share $ (1.36 ) $ (0.67 ) $ (3.61 ) $ (3.17 ) Diluted loss per share $ (1.36 ) $ (0.67 ) $ (3.61 ) $ (3.17 )
Inventories by Major Category	The following table summarizes inventories by major category: September 30, December 31, (Dollars in millions) 2015 2014 Raw materials $ 114 $ 19 Work-in-process 67 9 Finished goods 279 62 Replacement parts and other supplies 80 20 Inventories $ 540 $ 110
Analysis of Asset Retirement Obligations Included in Other Liabilities	The following table presents an analysis related to our asset retirement obligations. Long-term obligations are included in Other liabilities and current portions are included in Accrued liabilities in the accompanying Unaudited Condensed Consolidated Balance Sheets: Nine Months Ended September 30, (Dollars in millions) 2015 2014 Asset retirement obligations, January 1 $ 8 $ 13 Accretion expense 1 — Liabilities assumed 9 — Settlement of existing liabilities (2 ) — Adjustments to existing liabilities — (3 ) Asset retirement obligations, September 30 16 10 Less: Current portion — — Non-current portion of asset retirement obligations, September 30 $ 16 $ 10

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Schedule of accounting considerations	Accounting consideration for the NewPage acquisition is as follows: (Dollars in millions) 13,607,693 shares of Verso common stock valued at January 7, 2015 closing price $ 46 $650 million face value New First Lien Notes valued at January 7, 2015 closing price 663 Accounting consideration $ 709
Schedule of purchase price allocation	The preliminary allocation of the purchase price is as follows: (Dollars in millions) Cash $ 128 Current assets, excluding cash 577 Property, plant, and equipment 1,570 Other long-term assets 43 Current liabilities (276 ) Current portion of long-term debt (3 ) Noncurrent pension and other post-retirement benefit obligations (474 ) Other long-term liabilities (56 ) Long-term debt (800 ) Net assets acquired $ 709
Pro forma information	Pro Forma Nine Months Ended (Unaudited) September 30, (Dollars in millions, except per share data) 2015 2014 Revenues $ 2,399 $ 2,731 Net loss (265 ) (318 ) Earnings per share - basic and diluted $ (3.24 ) $ (3.90 ) Weighted-average common shares outstanding - basic and diluted (in thousands) 81,720 81,496

INTANGIBLES AND OTHER ASSETS (T

INTANGIBLES AND OTHER ASSETS (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles and Other Assets	The following table summarizes intangibles and other assets: VERSO VERSO HOLDINGS September 30, December 31, September 30, December 31, (Dollars in millions) 2015 2014 2015 2014 Amortizable intangible assets: Customer relationships, net of accumulated amortization of $10 million on September 30, 2015, and $9 million on December 31, 2014 $ 33 $ 4 $ 33 $ 4 Unamortizable intangible assets: Trademarks 10 10 10 10 Other assets: Financing costs, net of accumulated amortization of $23 million on September 30, 2015, and $19 million on December 31, 2014 19 23 19 23 Deferred major repair 35 21 35 21 Replacement parts, net 6 3 6 3 Loan to affiliate — — 23 23 Restricted cash 3 3 3 3 Other 23 7 16 7 Total other assets $ 86 $ 57 $ 102 $ 80 Intangibles and other assets, net $ 129 $ 71 $ 145 $ 94
Estimated Future Amortization Expense for Intangible Assets Over Next Five Years	The estimated future amortization expense for intangible assets over the next five years is as follows: (Dollars in millions) 2015 $ 1 2016 2 2017 2 2018 2 2019 2

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Summary of Debt	A summary of debt is as follows: September 30, 2015 December 31, 2014 Original Interest Par Par (Dollars in millions) Maturity Rate Balance Value Balance Value Verso Holdings Verso Androscoggin Power LLC Revolving 2/6/2015 — % $ — $ — $ 30 $ 30 Revolving Credit Facilities 5/4/2017 3.72 % 115 115 63 63 11.75% Senior Secured Notes - 2012 1/15/2019 11.75 % 424 418 424 418 11.75% Senior Secured Notes - 2015 1/15/2019 11.75 % 656 645 — — 11.75% Secured Notes 1/15/2019 11.75 % 272 272 272 272 13% Second Priority Senior Secured Notes 8/1/2020 13.00 % 272 181 299 299 16% Senior Subordinated Notes 8/1/2020 16.00 % 89 65 102 102 8.75% Second Priority Senior Secured Notes 2/1/2019 8.75 % 96 97 96 97 11.38% Senior Subordinated Notes 8/1/2016 11.38 % 41 41 41 41 Chase NMTC Verso Investment Fund LLC Loan from Verso Finance 12/29/2040 6.50 % 23 23 23 23 NewPage Corp Revolving Credit Facility 2/11/2019 2.75 % 238 238 — — Floating Rate Senior Secured Term Loan 2/11/2021 9.50 % 707 734 — — Total debt for Verso Holdings $ 2,933 $ 2,829 $ 1,350 $ 1,345 Verso Finance Loan from Verso Holdings 12/29/2040 6.50 % 23 23 23 23 Less current maturities of long-term debt (72 ) (72 ) (30 ) (30 ) Less loans from affiliates (46 ) (46 ) (46 ) (46 ) Total long-term debt for Verso $ 2,838 $ 2,734 $ 1,297 $ 1,292
Interest Expense Related to Debt and Cash Interests Payments on Debt	Amounts included in interest expense related to long-term debt and amounts of cash interest payments on long-term debt are as follows: VERSO Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2014 2015 2014 Interest expense $ 67 $ 34 $ 198 $ 102 Cash interest paid 118 48 223 115 Debt issuance cost amortization (1) 2 2 4 6 VERSO HOLDINGS Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2014 2015 2014 Interest expense $ 67 $ 35 $ 199 $ 103 Cash interest paid 118 49 224 117 Debt issuance cost amortization (1) 2 2 4 6 (1) Amortization of debt issuance cost is included in interest expense.

RETIREMENT AND OTHER POSTRETI27

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Components of Net Periodic Benefit Cost	The following table summarizes the components of net periodic benefit cost of our pension plans for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2014 2015 2014 Service cost $ 3 $ 1 $ 9 $ 4 Interest cost 17 1 49 3 Expected return on plan assets (21 ) (1 ) (62 ) (3 ) Amortization of prior service cost — 1 — 1 Amortization of actuarial loss — — 1 — Net periodic benefit cost $ (1 ) $ 2 $ (3 ) $ 5
Other Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Components of Net Periodic Benefit Cost	The following table summarizes the components of net periodic benefit cost of our OPEB obligations for the three-month and nine-month periods ended September 30, 2015 : Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2015 Service cost $ — $ — Interest cost — 1 Net periodic benefit cost $ — $ 1

DERIVATIVE INSTRUMENTS AND HE28

DERIVATIVE INSTRUMENTS AND HEDGES (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Information About Volume and Fair Value Amounts of Derivative Instruments	The following table presents information about the volume and fair value amounts of our derivative instruments: September 30, 2015 December 31, 2014 Fair Value Assets/(Liabilities) Fair Value Assets/(Liabilities) (Dollars in millions) MMBTUs MMBTUs Derivative contracts not currently designated as hedging instruments: Fixed price energy swaps: Notional amount 2,280,000 1,876,475 Accrued liabilities $ (3 ) $ (6 )
Schedule of Information About Effect of Derivative Instruments on Accumulated Other Comprehensive Income and Consolidated Statements of Operations	The following table presents information about the effect of our derivative instruments on the Unaudited Condensed Consolidated Statements of Operations: (Loss) Gain Recognized on Derivatives Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Derivative contracts not currently designated as hedging instruments: Fixed price energy swaps $ (1 ) $ 3 $ (3 ) $ 15 (Loss) gain recognized on derivatives is included in Cost of products sold.

FAIR VALUE OF FINANCIAL INSTR29

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table summarizes the balances of assets and liabilities measured at fair value on a recurring basis: (Dollars in millions) Total Level 1 Level 2 Level 3 September 30, 2015 Assets: Investments related to deferred compensation plans $ 4 $ 4 $ — $ — Liabilities: Commodity swaps $ 3 $ — $ 3 $ — December 31, 2014 Assets: Investments related to deferred compensation plans $ 4 $ 4 $ — $ — Liabilities: Commodity swaps $ 6 $ — $ 6 $ — Fair values are based on observable market data.

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Charges Incurred Related to Shutdown	The following table details the charges incurred related primarily to the Androscoggin/Wickliffe Capacity Reduction and primarily attributable to the paper segment as included in Restructuring charges on our accompanying Unaudited Condensed Consolidated Statements of Operations: Three Months Ended September 30, (Dollars in millions) 2015 Property and equipment - accelerated depreciation $ 34 Severance and benefit costs 15 Write-off of spare parts and inventory 1 Total restructuring costs $ 50 The following table details the charges incurred related primarily to the Bucksport mill closure in 2014 and attributable to the paper segment as included in Restructuring charges on our accompanying Unaudited Condensed Consolidated Statements of Operations: Nine Months Ended September 30, (Dollars in millions) 2015 Cumulative Property and equipment - impairment $ — $ 89 Severance and benefit costs 2 29 Write-off of spare parts and inventory — 14 Write-off of purchase obligations and commitments 6 8 Other miscellaneous costs 4 7 Total restructuring costs $ 12 $ 147 The following table details the charges incurred related primarily to the NewPage acquisition and primarily attributable to the paper segment as included in Restructuring charges on our accompanying Unaudited Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2015 Cumulative Property and equipment - disposal $ 4 $ 4 $ 4 Severance and benefit costs — 16 16 Total restructuring costs $ 4 $ 20 $ 20
Schedule of Restructuring Reserve by Type of Cost	The following details the changes in our restructuring reserve liabilities related to the Bucksport shutdown during the nine months ended September 30, 2015 , which are included in Accrued liabilities on our Unaudited Condensed Consolidated Balance Sheets: Nine Months Ended September 30, (Dollars in millions) 2015 Beginning balance of reserve $ 24 Severance and benefit payments (24 ) Purchase obligations 6 Payments on purchase obligations (8 ) Severance and benefit reserve adjustments 2 Ending balance of reserve $ — The following details the changes in our restructuring reserve liabilities related to the NewPage acquisition during the nine months ended September 30, 2015 , which are included in Accrued liabilities on our Unaudited Condensed Consolidated Balance Sheets: Nine Months Ended September 30, (Dollars in millions) 2015 Beginning balance of reserve $ — Severance and benefit costs 16 Severance and benefit payments (8 ) Ending balance of reserve $ 8 The following details the changes in our restructuring reserve liabilities related to the Androscoggin/Wickliffe Capacity Reduction during the nine months ended September 30, 2015 , which are included in Accrued liabilities on our Unaudited Condensed Consolidated Balance Sheets: Nine Months Ended September 30, (Dollars in millions) 2015 Beginning balance of reserve $ — Severance and benefit costs 15 Ending balance of reserve $ 15

NEW MARKET TAX CREDIT ENTITIES

NEW MARKET TAX CREDIT ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Impact of Consolidated VIE	The following table summarizes the impact of the VIE consolidated by Verso Holdings as of September 30, 2015 and December 31, 2014 : VERSO VERSO HOLDINGS September 30, December 31, September 30, December 31, (Dollars in millions) 2015 2014 2015 2014 Total assets $ — $ — $ 23 $ 23 Long-term debt — — 23 23 Other non-current liabilities 8 8 8 8 Total liabilities $ 8 $ 8 $ 31 $ 31 Amounts presented in the Unaudited Condensed Consolidated Balance Sheets and the table above are adjusted for intercompany eliminations.

INFORMATION BY INDUSTRY SEGME32

INFORMATION BY INDUSTRY SEGMENT (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table summarizes the industry segment data for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2015 2014 2015 2014 Net sales Paper $ 736 $ 313 $ 2,207 $ 851 Pulp 62 37 197 119 Intercompany eliminations (16 ) — (38 ) — Total $ 782 $ 350 $ 2,366 $ 970 Operating income (loss) Paper $ (38 ) $ 9 $ (70 ) $ (47 ) Pulp (5 ) 5 (24 ) 17 Total $ (43 ) $ 14 $ (94 ) $ (30 ) Depreciation, amortization, and depletion Paper $ 53 $ 20 $ 159 $ 62 Pulp 7 3 22 12 Total $ 60 $ 23 $ 181 $ 74 Capital expenditures Paper $ 18 $ 5 $ 39 $ 27 Pulp 5 2 9 7 Total $ 23 $ 7 $ 48 $ 34

CONDENSED CONSOLIDATING FINAN33

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Income Statement	Verso Paper Holdings LLC Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended September 30, 2015 Parent Subsidiary Guarantor Non- Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net sales $ — $ — $ 264 $ 537 $ — $ (19 ) $ 782 Cost of products sold (exclusive of depreciation, amortization, and depletion) — — 219 477 — (19 ) 677 Depreciation, amortization, and depletion (exclusive of accelerated depreciation included in Restructuring charges) — — 15 45 — — 60 Selling, general, and administrative expenses — — 17 16 — — 33 Restructuring charges — — 53 2 — — 55 Other operating income — — (37 ) 37 — — — Interest income (47 ) — — — (1 ) 48 — Interest expense 47 — 48 20 1 (48 ) 68 Equity in net loss of subsidiaries (111 ) — — — — 111 — Loss before income taxes $ (111 ) $ — $ (51 ) $ (60 ) $ — $ 111 $ (111 ) Income tax benefit — — — — — — — Net loss $ (111 ) $ — $ (51 ) $ (60 ) $ — $ 111 $ (111 ) Other comprehensive income 1 — 1 — — (1 ) 1 Comprehensive loss $ (110 ) $ — $ (50 ) $ (60 ) $ — $ 110 $ (110 ) Verso Paper Holdings LLC Condensed Consolidating Statement of Operations and Comprehensive Income Nine Months Ended September 30, 2015 Parent Subsidiary Guarantor Non- Guarantor Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net sales $ — $ — $ 767 $ 1,640 $ 1 $ (42 ) $ 2,366 Cost of products sold (exclusive of depreciation, amortization, and depletion) — — 665 1,439 — (42 ) 2,062 Depreciation, amortization, and depletion (exclusive of accelerated depreciation included in Restructuring charges) — — 48 132 1 — 181 Selling, general, and administrative expenses — — 68 67 (1 ) — 134 Restructuring charges — — 70 13 — — 83 Other operating income — — (73 ) 73 — — — Interest income (142 ) — (1 ) — (1 ) 143 (1 ) Interest expense 142 — 142 59 2 (143 ) 202 Equity in net loss of subsidiaries (293 ) — — — — 293 — Loss before income taxes $ (293 ) $ — $ (152 ) $ (143 ) $ — $ 293 $ (295 ) Income tax benefit — — — (2 ) — — (2 ) Net loss $ (293 ) $ — $ (152 ) $ (141 ) $ — $ 293 $ (293 ) Other comprehensive income 2 — 2 — — (2 ) 2 Comprehensive loss $ (291 ) $ — $ (150 ) $ (141 ) $ — $ 291 $ (291 ) Verso Paper Holdings LLC Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended September 30, 2014 Parent Subsidiary Guarantor Non- Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net sales $ — $ — $ 350 $ — $ 1 $ (1 ) $ 350 Cost of products sold (exclusive of depreciation, amortization, and depletion) — — 295 — 1 (1 ) 295 Depreciation, amortization, and depletion — — 23 — — — 23 Selling, general, and administrative expenses — — 18 — — — 18 Interest income (36 ) — — — — 36 — Interest expense 36 — 35 — 2 (36 ) 37 Other loss, net — — 14 — — — 14 Equity in net loss of subsidiaries (37 ) — — — — 37 — Net loss $ (37 ) $ — $ (35 ) $ — $ (2 ) $ 37 $ (37 ) Other comprehensive income 1 — 1 — — (1 ) 1 Comprehensive loss $ (36 ) $ — $ (34 ) $ — $ (2 ) $ 36 $ (36 ) Certain amounts in the prior year presentation have been reclassified to conform to the current year presentation.
Condensed Balance Sheet	Verso Paper Holdings LLC Condensed Consolidating Balance Sheet September 30, 2015 Parent Subsidiary Guarantor Non- Guarantor Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ — $ 3 $ 7 $ — $ — $ 10 Accounts receivable, net — — 74 183 — — 257 Current intercompany/affiliate receivable — — 10 16 — (26 ) — Inventories — — 115 425 — — 540 Prepaid expenses and other assets — — 5 29 — — 34 Total current assets — — 207 660 — (26 ) 841 Property, plant, and equipment, net — — 436 1,473 22 — 1,931 Intercompany/affiliate receivable 1,390 — 2 — 30 (1,422 ) — Intangibles and other assets, net (1) — — 81 68 1 (5 ) 145 Total assets $ 1,390 $ — $ 726 $ 2,201 $ 53 $ (1,453 ) $ 2,917 LIABILITIES AND MEMBER’S EQUITY Accounts payable $ — $ — $ 45 $ 125 $ — $ — $ 170 Current intercompany/affiliate payable — — 16 10 — (26 ) — Accrued liabilities 42 — 60 130 — — 232 Current maturities of long-term debt 41 — — 31 — — 72 Total current liabilities 83 — 121 296 — (26 ) 474 Intercompany/affiliate payable — — 1,390 — 32 (1,422 ) — Investment in subsidiaries 352 — 14 — — (366 ) — Long-term debt (2) 1,929 — — 914 23 (5 ) 2,861 Other liabilities — — 52 496 8 — 556 Member’s (deficit) equity (974 ) — (851 ) 495 (10 ) 366 (974 ) Total liabilities and equity $ 1,390 $ — $ 726 $ 2,201 $ 53 $ (1,453 ) $ 2,917 (1) Intangibles and other assets, net of Guarantor Subsidiaries include $23 million of a long-term note receivable from Verso Finance. (2) Long-term debt of Other Non-Guarantors is payable to Verso Finance. Verso Paper Holdings LLC Condensed Consolidating Balance Sheet December 31, 2014 Parent Subsidiary Guarantor Non- Guarantor Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ — $ 6 $ — $ — $ — $ 6 Accounts receivable, net — — 88 — — — 88 Inventories — — 110 — — — 110 Assets held for sale — — 60 — 1 — 61 Prepaid expenses and other assets — — 9 — 2 — 11 Total current assets — — 273 — 3 — 276 Property, plant, and equipment, net — — 508 — 23 — 531 Intercompany/affiliate receivable 1,397 — 2 — 58 (1,457 ) — Intangibles and other assets, net (1) — — 93 — 1 — 94 Total assets $ 1,397 $ — $ 876 $ — $ 85 $ (1,457 ) $ 901 LIABILITIES AND MEMBER’S EQUITY Accounts payable $ — $ — $ 63 $ — $ — $ — $ 63 Accrued liabilities 77 — 128 — 1 — 206 Current maturities of long-term debt — — — — 30 — 30 Liabilities related to assets held for sale — — 2 — — — 2 Total current liabilities 77 — 193 — 31 — 301 Intercompany/affiliate payable — — 1,423 — 34 (1,457 ) — Investment in subsidiaries 803 — 13 — — (816 ) — Long-term debt (2) 1,297 — — — 23 — 1,320 Other liabilities — — 52 — 8 — 60 Member’s (deficit) equity (780 ) — (805 ) — (11 ) 816 (780 ) Total liabilities and equity $ 1,397 $ — $ 876 $ — $ 85 $ (1,457 ) $ 901 (1) Intangibles and other assets, net of Guarantor Subsidiaries include $23 million of a long-term note receivable from Verso Finance. (2) Long-term debt of Other Non-Guarantors is payable to Verso Finance. Certain amounts in the prior year presentation have been reclassified to conform to the current year presentation.
Condensed Cash Flow Statement	Verso Paper Holdings LLC Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2015 Parent Subsidiary Guarantor Non- Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net cash used in operating activities $ — $ — $ (136 ) $ (148 ) $ — $ — $ (284 ) Cash flows from investing activities: Proceeds from sale of assets — — 50 1 — — 51 Transfers from (to) restricted cash — — — — 1 — 1 Capital expenditures — — (13 ) (35 ) — — (48 ) Acquisition, net of cash acquired — — — 128 — — 128 Acquisition of investment securities — — — (5 ) — — (5 ) Return of capital to Parent Issuer 73 — — — — (73 ) — Advances to subsidiaries (375 ) — — (51 ) — 426 — Payments from subsidiaries 250 — — 51 — (301 ) — Net cash (used in) provided by investing activities (52 ) — 37 89 1 52 127 Cash flows from financing activities: Borrowings on revolving credit facilities 169 — — 504 51 (51 ) 673 Payments on revolving credit facilities (117 ) — — (365 ) (81 ) 51 (512 ) Return of capital to Parent Issuer — — — (73 ) — 73 — Advances from parent — — 294 — 81 (375 ) — Payments to parent — — (198 ) — (52 ) 250 — Net cash provided by (used in) financing activities 52 — 96 66 (1 ) (52 ) 161 Change in cash and cash equivalents — — (3 ) 7 — — 4 Cash and cash equivalents at beginning of period — — 6 — — — 6 Cash and cash equivalents at end of period $ — $ — $ 3 $ 7 $ — $ — $ 10 Verso Paper Holdings LLC Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2014 Parent Subsidiary Guarantor Non-Guarantor Other Non-Guarantors (Dollars in millions) Issuer Issuer Subsidiaries Subsidiary Eliminations Consolidated Net cash (used in) provided by operating activities $ — $ — $ (69 ) $ — $ — $ — $ (69 ) Cash flows from investing activities: Transfers from (to) restricted cash — — 2 — (1 ) — 1 Capital expenditures — — (34 ) — — — (34 ) Other investing activities — — 5 — — — 5 Advances to subsidiaries (278 ) — — — — 278 — Payments from subsidiaries 218 — — — — (218 ) — Net cash used in investing activities (60 ) — (27 ) — (1 ) 60 (28 ) Cash flows from financing activities: Borrowings on revolving credit facilities 240 — — — 100 — 340 Payments on revolving credit facilities (168 ) — — — (60 ) — (228 ) Repayment of long-term debt (13 ) — — — — — (13 ) Debt issuance costs — — — — (2 ) — (2 ) Contribution from Verso 1 — — — — — 1 Return of capital to Parent Issuer — — — — (1 ) 1 — Advances from parent — — 278 — — (278 ) — Payments to parent — — (181 ) — (36 ) 217 — Net cash provided by financing activities 60 — 97 — 1 (60 ) 98 Change in cash and cash equivalents — — 1 — — — 1 Cash and cash equivalents at beginning of period — — 11 — — — 11 Cash and cash equivalents at end of period $ — $ — $ 12 $ — $ — $ — $ 12 Certain amounts in the prior year presentation have been reclassified to conform to the current year presentation.

Background and Basis of Prese34

Background and Basis of Presentation (Detail) $ in Millions	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Segment	Sep. 30, 2014USD ($)	Jun. 30, 2016USD ($)	Jan. 07, 2015USD ($)
Debt Instrument [Line Items]
Borrowings outstanding					$ 2,806		$ 2,806
Interest expense					67	$ 34	198	$ 102
Repayment in 2015					3		$ 3
Market segments | Segment							2
Increase (decrease) of adjusted EBITDA							$ 2
Revolving Credit Facilities | Revolving Credit Facilities
Debt Instrument [Line Items]
Credit facility, remaining borrowing capacity					8		8
Revolving Credit Facilities | NewPage Corp | Revolving Credit Facilities
Debt Instrument [Line Items]
Credit facility, remaining borrowing capacity					$ 54		$ 54
Scenario, Forecast
Debt Instrument [Line Items]
Debt repayment									$ 352
Interest expense	$ 120	$ 20	$ 120	$ 20					280
Scenario, Forecast | Revolving Credit Facilities | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt repayment									72
Floating Rate Senior Secured Term Loan | NewPage Corp | Term Loan
Debt Instrument [Line Items]
Repayment in 2015										$ 3
Floating Rate Senior Secured Term Loan | Scenario, Forecast | NewPage Corp | Term Loan
Debt Instrument [Line Items]
Quarterly repayment in 2016	$ 50	$ 9	$ 9						$ 9

SUPPLEMENTAL FINANCIAL STATEM35

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION - Reconciliation of Basic and Diluted Loss Per Common Share Verso Paper (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share Disclosure [Line Items]
Net loss available to common shareholders	$ (111)	$ (36)	$ (293)	$ (169)
Weighted average common stock outstanding (shares)	81,348,000	52,787,000	80,666,000	52,749,000
Weighted average restricted stock (shares)	494,000	541,000	433,000	531,000
Weighted average common shares outstanding - basic (shares)	81,842,000	53,328,000	81,099,000	53,280,000
Dilutive shares from stock options (shares)	0	0	0	0
Weighted average common shares outstanding - diluted (shares)	81,842,000	53,328,000	81,099,000	53,280,000
Basic loss per share (usd per share)	$ (1.36)	$ (0.67)	$ (3.61)	$ (3.17)
Diluted loss per share (usd per share)	$ (1.36)	$ (0.67)	$ (3.61)	$ (3.17)
Stock Option
Earnings Per Share Disclosure [Line Items]
Antidilutive securities	8,776,854	4,969,881	7,794,513	4,787,402
Antidilutive shares, weighted average exercise prices per share	$ 2.17	$ 2.45	$ 2.37	$ 2.43

SUPPLEMENTAL FINANCIAL STATEM36

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Interest cost, capitalized		$ 1		$ 2
Depreciation expense	$ 59	$ 22	$ 73	$ 179
Stock Option
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Antidilutive securities	8,776,854	4,969,881	7,794,513	4,787,402
Antidilutive shares, weighted average exercise prices per share	$ 2.17	$ 2.45	$ 2.37	$ 2.43
Other Asset
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Restricted cash, Asset Retirement obligation	$ 1		$ 1

SUPPLEMENTAL FINANCIAL STATEM37

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION - Inventories by Major Category (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 114	$ 19
Work-in-process	67	9
Finished goods	279	62
Replacement parts and other supplies	80	20
Inventories	$ 540	$ 110

SUPPLEMENTAL FINANCIAL STATEM38

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION - Analysis of Asset Retirement Obligations Included in Other Liabilities (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligations, Beginning balance	$ 8	$ 13
Accretion expense	1	0
Liabilities assumed	9	0
Settlement of existing liabilities	2	0
Adjustments to existing liabilities	0	(3)
Asset retirement obligations, Ending balance	16	10
Less: Current portion	0	0
Non-current portion of asset retirement obligations, September 30	$ 16	$ 10

ACQUISITIONS AND DISPOSITIONS A

ACQUISITIONS AND DISPOSITIONS Acquisition (Details)	Jan. 07, 2015USD ($)subsidiaryshares	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 05, 2014subsidiary
Business Acquisition [Line Items]
$650 million face value New First Lien Notes valued at January 7, 2015 closing price		$ 2,734,000,000		$ 2,734,000,000		$ 1,292,000,000
Number of subsidiaries | subsidiary	2
NewPage Corp
Business Acquisition [Line Items]
Acquisition related costs		$ 7,000,000	$ 14,000,000	$ 21,000,000	$ 33,000,000
Liabilities incurred	$ 650,000,000
Shares of Verso common stock issued in exchange for all the outstanding common stock of NewPage | shares	13,607,693
Debt assumed	$ 800,000,000
13,607,693 shares Verso common stock valued at January 7, 2015 closing price	46,000,000
$650 million face value New First Lien Notes valued at January 7, 2015 closing price	663,000,000
Accounting Consideration	709,000,000
Term Loan [Member] | NewPage Corp
Business Acquisition [Line Items]
Debt instrument, face amount	750,000,000
Debt assumed	734,000,000
ABL Facility | NewPage Corp
Business Acquisition [Line Items]
Credit facility, borrowing capacity	350,000,000
Debt assumed	$ 100,000,000
AIM Development (USA) LLC | Bucksport Mill [Member]
Business Acquisition [Line Items]
Number of subsidiaries entered into an agreement to sell equity interest | subsidiary							2

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS ( Purchase Price Allocation) (Details) - NewPage Corp $ in Millions	Jan. 07, 2015USD ($)
Business Acquisition [Line Items]
Cash	$ 128
Current assets, excluding cash	577
Property, plant, and equipment	1,570
Other long-term assets	43
Current liabilities	(276)
Current portion of long-term debt	(3)
Noncurrent pension and other post-retirement benefit obligations	(474)
Other long-term liabilities	(56)
Long-term debt	(800)
Net assets acquired	$ 709

ACQUISITIONS AND DISPOSITIONS41

ACQUISITIONS AND DISPOSITIONS (Proforma) (Details) - NewPage Corp - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition [Line Items]
Revenues	$ 2,399	$ 2,731
Net loss	$ (265)	$ (318)
Earnings per share - basic and diluted	$ (3.24)	$ (3.90)
Weighted-average common shares outstanding - basic and diluted (in thousands)	81,720	81,496

INTANGIBLES AND OTHER ASSETS -

INTANGIBLES AND OTHER ASSETS - (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Unamortizable intangible assets:
Trademarks	$ 10	$ 10
Other assets:
Financing costs, net	19	23
Deferred major repair	35	21
Replacement parts, net	6	3
Loan to affiliate	0	0
Restricted cash	3	3
Other	23	7
Total other assets	86	57
Intangibles and other assets, net	129	71
Customer Relationships
Amortizable intangible assets:
Amortizable intangible assets, net	33	4
Verso Paper Holdings LLC
Unamortizable intangible assets:
Trademarks	10	10
Other assets:
Financing costs, net	19	23
Deferred major repair	35	21
Replacement parts, net	6	3
Loan to affiliate	23	23
Restricted cash	3	3
Other	16	7
Total other assets	102	80
Intangibles and other assets, net	145	94
Verso Paper Holdings LLC | Customer Relationships
Amortizable intangible assets:
Amortizable intangible assets, net	$ 33	$ 4

INTANGIBLES AND OTHER ASSETS 43

INTANGIBLES AND OTHER ASSETS - (Non printing) (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Intangibles and Other Assets by Major Class [Line Items]
Financing costs, accumulated amortization	$ 23	$ 19
Customer Relationships
Intangibles and Other Assets by Major Class [Line Items]
Amortizable intangible assets, accumulated amortization	$ 10	$ 9

INTANGIBLES AND OTHER ASSETS 44

INTANGIBLES AND OTHER ASSETS - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 1

INTANGIBLES AND OTHER ASSETS 45

INTANGIBLES AND OTHER ASSETS - Estimated Future Amortization Expense for Intangible Assets Over Next Five Years (Detail) $ in Millions	Sep. 30, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,015	$ 1
2,016	2
2,017	2
2,018	2
2,019	$ 2

DEBT - Summary of Debt (Detail

DEBT - Summary of Debt (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2015	Jan. 07, 2015	Dec. 31, 2014	Jul. 02, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2006
Debt Instrument [Line Items]
Less current maturities of long-term debt	$ (72,000,000)		$ (30,000,000)
Current maturities, par value	(71,861,000)		(30,000,000)
Long-term debt	2,838,000,000		1,297,000,000
Total long-term debt for Verso	2,734,000,000		1,292,000,000
Verso Paper Holdings LLC
Debt Instrument [Line Items]
Balance	2,933,000,000		1,350,000,000
Less current maturities of long-term debt	(72,000,000)		(30,000,000)
Long-term debt	2,861,000,000		1,320,000,000
Total long-term debt for Verso	$ 2,829,000,000		1,345,000,000
Verso Paper Holdings LLC | Chase NMTC Verso Investment Fund, LLC
Debt Instrument [Line Items]
Original Maturity	Dec. 29, 2040
Interest rate	6.50%
Balance	$ 23,000,000		23,000,000
Par Value	$ 23,305,000		23,305,000
Senior Secured Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	Jan. 15, 2019
Par Value						$ 345,000,000
Secured debt | NewPage Corp
Debt Instrument [Line Items]
Original Maturity	Feb. 11, 2021
Interest rate at period end	9.50%
Balance	$ 707,000,000		0
Par Value	$ 734,469,000		0
Secured debt | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	Jan. 15, 2019
Interest rate	11.75%					11.75%
Balance	$ 272,000,000		272,000,000
Par Value	$ 271,573,000		271,573,000			$ 271,600,000
Second Priority Senior Secured Notes
Debt Instrument [Line Items]
Interest rate		10.00%
Balance		$ 178,000,000
Senior Subordinated Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Par Value								$ 300,000,000
Loan from Verso Holdings | Verso Finance
Debt Instrument [Line Items]
Original Maturity	Dec. 29, 2040
Interest rate	6.50%
Par Value	$ 23,305,000		23,305,000
Loan from Verso Holdings	$ 23,000,000		23,000,000
Verso Androscoggin Power LLC Revolving Credit Facility | Revolving Credit Facilities | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	Feb. 6, 2015
Interest rate at period end	0.00%
Balance	$ 0		30,000,000
Par Value	$ 0		30,000,000
Revolving Credit Facilities | Revolving Credit Facilities | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	May 4, 2017
Interest rate at period end	3.72%
Balance	$ 115,000,000		63,000,000
Par Value	115,500,000		63,000,000
Intercompany Eliminations
Debt Instrument [Line Items]
Par Value	46,610,000		46,610,000
Less loans from affiliates	$ (46,000,000)		(46,000,000)
11.75% Senior Secured Notes - 2012 | Senior Secured Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	Jan. 15, 2019
Interest rate	11.75%				11.75%	11.75%
Balance	$ 424,000,000		424,000,000
Par Value	$ 417,882,000		417,882,000
11.75% Senior Secured Notes - 2015 | Senior Secured Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	Jan. 15, 2019
Interest rate	11.75%
Balance	$ 656,000,000		0
Par Value	$ 645,507,000		0
13% Second Priority Senior Secured Notes | Second Priority Senior Secured Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	Aug. 1, 2020
Interest rate	13.00%
Balance	$ 272,000,000		299,000,000
Par Value	$ 180,767,777		299,353,000
16% Senior Subordinated Notes | Senior Subordinated Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	Aug. 1, 2020
Interest rate	16.00%
Balance	$ 89,000,000		102,000,000
Par Value	$ 65,026,235		101,983,000
8.75% Second Priority Senior Secured Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Interest rate	8.75%
8.75% Second Priority Senior Secured Notes | Second Priority Senior Secured Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	Feb. 1, 2019
Interest rate	8.75%			8.75%			8.75%
Balance	$ 96,000,000		96,000,000
Par Value	$ 96,647,000		96,647,000
11.38% Senior Subordinated Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Interest rate	11.38%
11.38% Senior Subordinated Notes | Senior Subordinated Notes | Verso Paper Holdings LLC
Debt Instrument [Line Items]
Original Maturity	Aug. 1, 2016
Interest rate	11.38%	11.38%		11.38%
Balance	$ 41,000,000		41,000,000
Par Value	$ 40,517,000		40,517,000
NewPage Corp
Debt Instrument [Line Items]
Total long-term debt for Verso		$ 663,000,000
NewPage Corp | Revolving Credit Facilities | Revolving Credit Facilities
Debt Instrument [Line Items]
Original Maturity	Feb. 11, 2019
Interest rate at period end	2.75%
Balance	$ 238,000,000		0
Par Value	$ 238,500,000		$ 0

DEBT - Summary of Long Term De

DEBT - Summary of Long Term Debt (Non-printing) (Detail) - Verso Paper Holdings LLC - USD ($)	Dec. 31, 2012	Dec. 31, 2011
11.75% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 345,000,000
8.75% Second Priority Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 396,000,000

DEBT - Interest Expense Relate

DEBT - Interest Expense Related to Long Term Debt and Cash Interests Payments on Long Term Debt (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Interest expense		$ 67	$ 34	$ 198	$ 102
Cash interest paid		118	48	223	115
Debt issuance cost amortization	[1]	2	2	4	6
Verso Paper Holdings LLC
Debt Instrument [Line Items]
Interest expense		67	35	199	103
Cash interest paid		118	49	224	117
Debt issuance cost amortization	[1]	$ 2	$ 2	$ 4	$ 6
[1]	Amortization of debt issuance cost is included in interest expense.

DEBT - Additional Information

DEBT - Additional Information (Detail) - USD ($) shares in Millions

Jan. 07, 2015

Jan. 06, 2015

Aug. 02, 2014

Sep. 30, 2015

Dec. 31, 2012

Jul. 14, 2015

Dec. 31, 2014

Aug. 01, 2014

Jul. 02, 2014

Feb. 11, 2014

Dec. 31, 2013

May. 04, 2012

Dec. 31, 2011

Dec. 29, 2010

Dec. 31, 2006

Debt Instrument [Line Items]

Debt instrument, fair value disclosure

$ 1,152,000,000

$ 1,082,000,000

Verso Paper Holdings LLC

Debt Instrument [Line Items]

Debt instrument, fair value disclosure

1,129,000,000

1,059,000,000

Long-term debt

2,933,000,000

1,350,000,000

Revolving Credit Facilities | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Credit facility, borrowing capacity

$ 50,000,000

Credit facility, outstanding

50,000,000

Credit facility, remaining borrowing capacity

0

Letter of Credit | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Credit facility, outstanding

$ 0

11.38% Senior Subordinated Notes | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Notes, interest rate

11.38%

11.75% Secured Notes | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Notes, interest rate

11.75%

Asset Based Loan Facility | Revolving Credit Facilities

Debt Instrument [Line Items]

Description of maturity date for debt instrument

On January 7, 2015, Verso consummated the NewPage acquisition, and as a result, the credit facility was terminated on February 4, 2015.

New Second Lien Notes [Member]

Debt Instrument [Line Items]

Notes, interest rate

10.00%

Decrease in long term debt

$ 121,000,000

Long-term debt

$ 178,000,000

Paid-in-Kind interest, percentage

3.00%

Principal amount

$ 593.75

Revolving Credit Facilities | Revolving Credit Facilities

Debt Instrument [Line Items]

Credit facility, remaining borrowing capacity

$ 8,000,000

Description of maturity date for debt instrument

May 4, 2017

Revolving Credit Facilities | Revolving Credit Facilities | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Credit facility, borrowing capacity

$ 150,000,000

Credit facility, outstanding

66,000,000

Letters of credit, outstanding

30,000,000

Credit facility, remaining borrowing capacity

$ 8,000,000

Rate of interest

3.72%

Notes, principal amount

$ 115,500,000

63,000,000

Long-term debt

$ 115,000,000

63,000,000

Credit facility, maturity date

May 4, 2017

Revolving Credit Facilities | Cash Flow Facility

Debt Instrument [Line Items]

Commitment fee, percentage

0.625%

11.75% Senior Secured Notes | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Notes, principal amount

$ 345,000,000

Debt exchanged issued debt amount

$ 73,000,000

Original Maturity

Jan. 15, 2019

11.75% Senior Secured Notes | 11.75% Secured Notes

Debt Instrument [Line Items]

Notes, interest rate

11.75%

11.75% Senior Secured Notes | 11.75% Senior Secured Notes - 2012 | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Notes, principal amount

$ 417,882,000

417,882,000

Notes, interest rate

11.75%

11.75%

11.75%

Original Maturity

Jan. 15, 2019

Long-term debt

$ 424,000,000

424,000,000

Secured debt | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Notes, principal amount

$ 271,573,000

$ 271,600,000

271,573,000

Notes, interest rate

11.75%

11.75%

Original Maturity

Jan. 15, 2019

Long-term debt

$ 272,000,000

272,000,000

Second Priority Senior Secured Notes Eight Point Seven Five Percent [Member]

Debt Instrument [Line Items]

Original debt, amount

$ 299,000,000

Principal amount

1,000

Second Priority Senior Secured Notes Eight Point Seven Five Percent [Member] | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Notes, principal amount

$ 396,000,000

11.38% Senior Subordinated Notes

Debt Instrument [Line Items]

Original debt, amount

102,000,000

Decrease in long term debt

$ 39,000,000

Principal amount

$ 1,000

11.38% Senior Subordinated Notes | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Notes, principal amount

$ 300,000,000

11.38% Senior Subordinated Notes | 11.38% Senior Subordinated Notes | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Notes, principal amount

$ 40,517,000

40,517,000

Notes, interest rate

11.38%

11.38%

11.38%

Original Maturity

Aug. 1, 2016

Long-term debt

$ 41,000,000

41,000,000

16% Senior Subordinated Notes

Debt Instrument [Line Items]

Notes, interest rate

11.00%

Long-term debt

$ 63,000,000

Paid-in-Kind interest, percentage

5.00%

Principal amount

$ 620

Unsecured Debt [Member] | Verso Finance

Debt Instrument [Line Items]

Debt exchanged issued debt amount

$ 86,000,000

NewPage Corp

Debt Instrument [Line Items]

Liabilities incurred

$ 650,000,000

NewPage Corp | Revolving Credit Facilities

Debt Instrument [Line Items]

Credit facility, borrowing capacity

$ 350,000,000

NewPage Corp | Revolving Credit Facilities | Revolving Credit Facilities

Debt Instrument [Line Items]

Letters of credit, outstanding

52,000,000

Credit facility, remaining borrowing capacity

54,000,000

Notes, principal amount

238,500,000

0

Long-term debt

$ 238,000,000

0

Credit facility, maturity date

Feb. 11, 2019

Exchange Offer One | Second Priority Senior Secured Notes Eight Point Seven Five Percent [Member]

Debt Instrument [Line Items]

Converted instrument, warrants and options issued

9.3

Financial liabilities, fair value

$ 0

Exchange Offer Two | 11.38% Senior Subordinated Notes

Debt Instrument [Line Items]

Converted instrument, warrants and options issued

5.4

Financial liabilities, fair value

$ 0

Chase NMTC Verso Investment Fund, LLC | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Notes, principal amount

$ 23,305,000

23,305,000

Notes, interest rate

6.50%

Original Maturity

Dec. 29, 2040

Long-term debt

$ 23,000,000

$ 23,000,000

Variable Interest Entity, Primary Beneficiary | Chase NMTC Verso Investment Fund, LLC

Debt Instrument [Line Items]

Notes, interest rate

6.50%

6.50%

Original Maturity

Dec. 29, 2040

Long-term debt

$ 23,000,000

$ 23,000,000

NewPage Corp | Revolving Credit Facilities | Revolving Credit Facilities | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Credit facility, borrowing capacity

$ 60,000,000

Credit facility, outstanding

$ 0

NewPage Corp | Eurodollar [Member] | Revolving Credit Facilities | Revolving Credit Facilities | Verso Paper Holdings LLC

Debt Instrument [Line Items]

Variable interest rate

4.75%

Minimum [Member] | Revolving Credit Facilities | ABL Facility

Debt Instrument [Line Items]

Commitment fee, percentage

0.375%

Maximum [Member] | Revolving Credit Facilities | ABL Facility

Debt Instrument [Line Items]

Commitment fee, percentage

0.50%

DEBT (New Page Debt) (Details)

DEBT (New Page Debt) (Details) - USD ($)	Jan. 07, 2015	Feb. 11, 2014	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Repayment in 2015			$ 3,000,000
Revolving Credit Facilities | Revolving Credit Facilities
Debt Instrument [Line Items]
Credit facility, remaining borrowing capacity			8,000,000
NewPage Corp | Term Loan | Floating Rate Senior Secured Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount		$ 750,000,000
Effective interest rate, if loan is prepaid on and after first anniversary of closing date		2.00%
Effective interest rate, if loan is prepaid on and after second anniversary of closing date and prior to third anniversary of closing date		0.01
Mandatory prepayment, percentage of net cash proceeds of indebtedness		100.00%
Mandatory prepayment, percentage of net cash proceeds of any non-ordinary course sale or other disposition of assets		100.00%
Reinvestment rights, period		12 months
Reinvestment rights, if contractually committed, period		18 months
Contractual committed, period		12 months
Mandatory prepayment, percentage of excess cash flow		75.00%
Repayment in 2015	$ 3,000,000
Quarterly repayment in 2017	14,000,000
Quarterly repayment in 2018	19,000,000
NewPage Corp | Term Loan | Floating Rate Senior Secured Term Loan | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate		8.25%
NewPage Corp | Term Loan | Floating Rate Senior Secured Term Loan | Base Rate
Debt Instrument [Line Items]
Variable rate		7.25%
NewPage Corp | Revolving Credit Facilities
Debt Instrument [Line Items]
Credit facility, borrowing capacity		$ 350,000,000
NewPage Corp | Revolving Credit Facilities | Revolving Credit Facilities
Debt Instrument [Line Items]
Long-term debt			238,000,000	$ 0
Letters of credit, outstanding			52,000,000
Credit facility, remaining borrowing capacity			$ 54,000,000
Interest rate at period end			2.75%
Debt instrument, face amount			$ 238,500,000	$ 0
Biron and Rumford Mills | NewPage Corp | Term Loan | Floating Rate Senior Secured Term Loan
Debt Instrument [Line Items]
Proceeds from sale of business	$ 16,000,000
Minimum [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate			1.75%
Minimum [Member] | Base Rate
Debt Instrument [Line Items]
Variable rate			0.75%
Maximum [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate			2.25%
Maximum [Member] | Base Rate
Debt Instrument [Line Items]
Variable rate			1.25%

RETIREMENT AND OTHER POSTRETI51

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 3	$ 1	$ 9	$ 4
Interest cost	17	1	49	3
Expected return on plan assets	(21)	(1)	(62)	(3)
Amortization of prior service cost	0	1	0	1
Amortization of actuarial loss	0	0	1	0
Net periodic benefit cost	(1)	$ 2	(3)	$ 5
Other Postretirement Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0		0
Interest cost	0		1
Net periodic benefit cost	$ 0		$ 1

RETIREMENT AND OTHER POSTRETI52

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]
Contribution made by employer	$ 10,000,000	$ 5,200,000	$ 23,000,000	$ 6,900,000
Cash contribution			$ 4,000,000

DERIVATIVE INSTRUMENTS AND HE53

DERIVATIVE INSTRUMENTS AND HEDGES - Schedule of Information About Volume and Fair Value Amounts of Derivative Instruments (Detail) - Commodity swaps - Not Designated as Hedging Instrument $ in Millions	Sep. 30, 2015USD ($)MMBTU	Dec. 31, 2014USD ($)MMBTU
Derivative [Line Items]
Notional amount	2,280,000	1,876,475
Accrued liabilities
Derivative [Line Items]
Fair Value Assets/(Liabilities) | $	$ (3)	$ (6)

DERIVATIVE INSTRUMENTS AND HE54

DERIVATIVE INSTRUMENTS AND HEDGES - Schedule of Information About Effect of Derivative Instruments on Accumulated Other Comprehensive Income and Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Commodity swaps | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) Gain Recognized on Derivatives	$ (1)	$ 3	$ (3)	$ 15

FAIR VALUE OF FINANCIAL INSTR55

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Investments related to deferred compensation plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 4	$ 4
Commodity swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	3	6
Fair Value, Inputs, Level 1 | Investments related to deferred compensation plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	4	4
Fair Value, Inputs, Level 2 | Commodity swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	$ 3	$ 6

RELATED PARTY TRANSACTIONS - A

RELATED PARTY TRANSACTIONS - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2011	Dec. 29, 2010
Related Party Transaction [Line Items]
Management agreement expiration date		Jun. 1, 2017
Long-term notes receivable	$ 0	$ 0	$ 0
Verso Paper Holdings LLC
Related Party Transaction [Line Items]
Long-term debt	2,933	2,933	1,350
Long-term notes receivable	23	$ 23	$ 23
Chase NMTC Verso Investment Fund, LLC | Variable Interest Entity, Primary Beneficiary
Related Party Transaction [Line Items]
Original maturity date		Dec. 29, 2040
Long-term debt	23	$ 23			$ 23
Interest rate				6.50%	6.50%
Accrued interest payable to Verso Finance	0.1	0.1
Interest Expense, Related Party		1
Apollo [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	11	23
Accounts Receivable, Related Parties	3	3
Verso Finance
Related Party Transaction [Line Items]
Long-term debt	23	23			$ 23
Interest rate					6.50%
Verso Paper Holdings LLC
Related Party Transaction [Line Items]
Long-term notes receivable	$ 23	23
Investment Income Interest Related Party		$ 1
Management Agreement
Related Party Transaction [Line Items]
Management agreement expiration date		Aug. 1, 2018
Management fee as a percentage of aggregate enterprise value	1.00%	1.00%

RESTRUCTURING CHARGES (Addition

RESTRUCTURING CHARGES (Additional information) (Details)	Aug. 20, 2015T	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014T
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 55,000,000	$ 83,000,000		$ 0
Paper
Restructuring Cost and Reserve [Line Items]
Decrease in Production Capacity | T	430,000
Pulp
Restructuring Cost and Reserve [Line Items]
Decrease in Production Capacity | T	130,000
Coated groundwood paper
Restructuring Cost and Reserve [Line Items]
Capacity of plant | T						350,000
Specialty paper
Restructuring Cost and Reserve [Line Items]
Capacity of plant | T						55,000
Bucksport Mill Closure In Twenty Fourteen [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			12,000,000	$ 147,000,000
Bucksport Mill Closure In Twenty Fourteen [Member] | Severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 2,000,000	$ 29,000,000
Bucksport Mill Closure In Twenty Fourteen [Member] | NewPage Corp
Restructuring Cost and Reserve [Line Items]
Restructuring charges					$ 0

RESTRUCTURING CHARGES (Charges

RESTRUCTURING CHARGES (Charges Incurred Related to Shutdown) (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 55	$ 83		$ 0
Androscoggin- Wickliffe Capacity Reduction [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	50
Androscoggin- Wickliffe Capacity Reduction [Member] | Property and Equipment, Accelerated Depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	34
Androscoggin- Wickliffe Capacity Reduction [Member] | Severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	15
Androscoggin- Wickliffe Capacity Reduction [Member] | Write-off of Spare Parts and Inventory [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1
NewPage Acquisition Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4	20
NewPage Acquisition Restructuring [Member] | Property And Equipment Impairment
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4	4
NewPage Acquisition Restructuring [Member] | Severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	16
Bucksport Mill Closure In Twenty Fourteen [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		12	$ 147
Bucksport Mill Closure In Twenty Fourteen [Member] | Property And Equipment Impairment
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0	89
Bucksport Mill Closure In Twenty Fourteen [Member] | Severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2	29
Bucksport Mill Closure In Twenty Fourteen [Member] | Write-off of related spare parts and inventory
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0	14
Bucksport Mill Closure In Twenty Fourteen [Member] | Write Off Of Purchase Obligations And Commitments
Restructuring Cost and Reserve [Line Items]
Restructuring charges		6	8
Bucksport Mill Closure In Twenty Fourteen [Member] | Other miscellaneous costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 4	$ 7

RESTRUCTURING CHARGES (Restruct

RESTRUCTURING CHARGES (Restructuring Reserve) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Restructuring Reserve [Roll Forward]
Restructuring Reserve	$ 24
Purchase obligations	6
Restructuring Reserve	0
Severance and benefit costs
Restructuring Reserve [Roll Forward]
Restructuring Payments	(24)
Severance and benefit reserve adjustments	2
Purchase Obligation
Restructuring Reserve [Roll Forward]
Restructuring Payments	(8)
NewPage Corp
Restructuring Reserve [Roll Forward]
Restructuring Reserve	0
Severance and benefit costs	16
Restructuring Payments	(8)
Restructuring Reserve	8
Androscoggin- Wickliffe Capacity Reduction [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve	0
Severance and benefit costs	15
Restructuring Reserve	$ 15

NEW MARKET TAX CREDIT ENTITIE60

NEW MARKET TAX CREDIT ENTITIES - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2011
Variable Interest Entity [Line Items]
Renewable Energy project amount		$ 43
Chase NMTC Verso Investment Fund, LLC | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Put option anticipated exercise date	2017-12
Tax credit, recapture percentage	100.00%
Tax credit, recapture period	7 years

NEW MARKET TAX CREDIT ENTITIE61

NEW MARKET TAX CREDIT ENTITIES - Schedule of Impact of Consolidated VIE (Detail) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Variable Interest Entity [Line Items]
Variable interest entity, consolidated assets	$ 0	$ 0
Variable interest entity, consolidated liabilities	8	8
Long-term debt
Variable Interest Entity [Line Items]
Variable interest entity, consolidated liabilities	0	0
Other non-current liabilities
Variable Interest Entity [Line Items]
Variable interest entity, consolidated liabilities	8	8
Verso Paper Holdings LLC
Variable Interest Entity [Line Items]
Variable interest entity, consolidated assets	23	23
Variable interest entity, consolidated liabilities	31	31
Verso Paper Holdings LLC | Long-term debt
Variable Interest Entity [Line Items]
Variable interest entity, consolidated liabilities	23	23
Verso Paper Holdings LLC | Other non-current liabilities
Variable Interest Entity [Line Items]
Variable interest entity, consolidated liabilities	$ 8	$ 8

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Supply agreement expiration date	Jun. 1, 2017
Supply agreement, description	The agreement requires Expera Specialty Solutions, LLC to pay us a variable charge for the paper purchased and a fixed charge for the availability of the paper machine.

- Additional Information (Detai

- Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015Segment
Segment Reporting [Abstract]
Number of reporting segments	2

INFORMATION BY INDUSTRY SEGME64

INFORMATION BY INDUSTRY SEGMENT - (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Net sales	$ 782	$ 350	$ 2,366	$ 970
Operating Income (Loss)	(43)	14	(94)	(30)
Depreciation, amortization, and depletion	60	23	181	74
Capital spending			48	34
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	(43)	14	(94)	(30)
Depreciation, amortization, and depletion	60	23	181	74
Capital spending	23	7	48	34
Operating Segments | Paper
Segment Reporting Information [Line Items]
Net sales	736	313	2,207	851
Operating Income (Loss)	(38)	9	(70)	(47)
Depreciation, amortization, and depletion	53	20	159	62
Capital spending	18	5	39	27
Operating Segments | Pulp
Segment Reporting Information [Line Items]
Net sales	62	37	197	119
Operating Income (Loss)	(5)	5	(24)	17
Depreciation, amortization, and depletion	7	3	22	12
Capital spending	5	2	9	7
Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales	$ (16)	$ 0	$ (38)	$ 0

CONDENSED CONSOLIDATING FINAN65

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Additional Information (Detail) - VERSO PAPER HOLDINGS LLC	9 Months Ended
	Sep. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Equity Method Investment, Ownership Percentage	100.00%
11.75% Senior Secured Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	11.75%
Debt Instrument Maturity Year	2,019
11.75% Secured Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	11.75%
Debt Instrument Maturity Year	2,019
8.75% Second Priority Senior Secured Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	8.75%
Debt Instrument Maturity Year	2,019
Second Priority Senior Secured Floating Rate Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	13.00%
11.38% Senior Subordinated Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	11.38%
Debt Instrument Maturity Year	2,016

CONDENSED CONSOLIDATING FINAN66

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Balance Sheet (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 10	$ 6	$ 12	$ 11
Accounts receivable, net	257	88
Inventories	540	110
Assets held for sale	0	61
Prepaid expenses and other assets	34	11
Total current assets	841	276
Property, plant, and equipment, net	1,931	531
Intangibles and other assets, net	129	71
Total assets	2,901	878
LIABILITIES AND MEMBER'S EQUITY
Accounts payable	170	63
Accrued liabilities	239	205
Current maturities of long-term debt	72	30
Liabilities related to assets held for sale	0	2
Total current liabilities	481	300
Long-term debt	2,838	1,297
Other liabilities	560	65
Total liabilities and equity	2,901	878
VERSO PAPER HOLDINGS LLC
ASSETS
Cash and cash equivalents	10	6	12	11
Accounts receivable, net	257	88
Current intercompany/affiliate receivable	0
Inventories	540	110
Assets held for sale	0	61
Prepaid expenses and other assets	34	11
Total current assets	841	276
Property, plant, and equipment, net	1,931	531
Intangibles and other assets, net	145	94
Total assets	2,917	901
LIABILITIES AND MEMBER'S EQUITY
Accounts payable	170	63
Current intercompany/affiliate payable	0
Accrued liabilities	232	206
Current maturities of long-term debt	72	30
Liabilities related to assets held for sale	0	2
Total current liabilities	474	301
Long-term debt	2,861	1,320
Other liabilities	556	60
Member’s (deficit) equity	(974)	(780)	(578)	(411)
Total liabilities and equity	2,917	901
VERSO PAPER HOLDINGS LLC | Parent Company
ASSETS
Cash and cash equivalents	0
Accounts receivable, net	0
Current intercompany/affiliate receivable	0
Inventories	0
Assets held for sale		0
Prepaid expenses and other assets	0
Total current assets	0
Property, plant, and equipment, net	0
Intercompany/affiliate receivable	1,390	1,397
Intangibles and other assets, net	0
Total assets	1,390	1,397
LIABILITIES AND MEMBER'S EQUITY
Current intercompany/affiliate payable	0
Accrued liabilities	42	77
Current maturities of long-term debt	41
Liabilities related to assets held for sale		0
Total current liabilities	83	77
Intercompany/affiliate payable		0
Investment in subsidiaries	352	803
Long-term debt	1,929	1,297
Other liabilities	0	0
Member’s (deficit) equity	(974)	(780)
Total liabilities and equity	1,390	1,397
VERSO PAPER HOLDINGS LLC | Subsidiary Issuer
ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	0	0
Current intercompany/affiliate receivable	0
Inventories	0	0
Assets held for sale		0
Prepaid expenses and other assets	0	0
Total current assets	0	0
Property, plant, and equipment, net	0	0
Intercompany/affiliate receivable	0	0
Intangibles and other assets, net	0	0
Total assets	0	0
LIABILITIES AND MEMBER'S EQUITY
Accounts payable	0
Current intercompany/affiliate payable	0
Accrued liabilities	0
Current maturities of long-term debt	0
Liabilities related to assets held for sale		0
Total current liabilities	0
Intercompany/affiliate payable	0
Investment in subsidiaries	0
Long-term debt	0	0
Other liabilities	0
Member’s (deficit) equity	0
Total liabilities and equity	0
VERSO PAPER HOLDINGS LLC | Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	3	6	12	11
Accounts receivable, net	74	88
Current intercompany/affiliate receivable	10
Inventories	115	110
Assets held for sale		60
Prepaid expenses and other assets	5	9
Total current assets	207	273
Property, plant, and equipment, net	436	508
Intercompany/affiliate receivable	2	2
Intangibles and other assets, net	81	93
Total assets	726	876
LIABILITIES AND MEMBER'S EQUITY
Accounts payable	45	63
Current intercompany/affiliate payable	16
Accrued liabilities	60	128
Current maturities of long-term debt	0
Liabilities related to assets held for sale		2
Total current liabilities	121	193
Intercompany/affiliate payable	1,390	1,423
Investment in subsidiaries	14	13
Long-term debt		0
Other liabilities	52	52
Member’s (deficit) equity	(851)	(805)
Total liabilities and equity	726	876
VERSO PAPER HOLDINGS LLC | Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	7
Accounts receivable, net	183
Current intercompany/affiliate receivable	16
Inventories	425
Assets held for sale		0
Prepaid expenses and other assets	29
Total current assets	660	0
Property, plant, and equipment, net	1,473
Intercompany/affiliate receivable	0
Intangibles and other assets, net	68
Total assets	2,201
LIABILITIES AND MEMBER'S EQUITY
Accounts payable	125
Current intercompany/affiliate payable	10
Accrued liabilities	130	0
Current maturities of long-term debt	31
Liabilities related to assets held for sale		0
Total current liabilities	296
Investment in subsidiaries	0
Long-term debt	914	0
Other liabilities	496	0
Member’s (deficit) equity	495
Total liabilities and equity	2,201
VERSO PAPER HOLDINGS LLC | Other Non-Guarantors
ASSETS
Cash and cash equivalents	0	0		0
Accounts receivable, net	0	0
Current intercompany/affiliate receivable	0
Inventories	0	0
Assets held for sale		1
Prepaid expenses and other assets	0	2
Total current assets		3
Property, plant, and equipment, net	22	23
Intercompany/affiliate receivable	30	58
Intangibles and other assets, net	1	1
Total assets	53	85
LIABILITIES AND MEMBER'S EQUITY
Accounts payable	0	0
Current intercompany/affiliate payable	0
Accrued liabilities	0	1
Current maturities of long-term debt	0	30
Liabilities related to assets held for sale		0
Total current liabilities		31
Intercompany/affiliate payable	32	34
Investment in subsidiaries	0
Long-term debt	23	23
Other liabilities	8	8
Member’s (deficit) equity	(10)	(11)
Total liabilities and equity	53	85
VERSO PAPER HOLDINGS LLC | Eliminations
ASSETS
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable, net	0	0
Current intercompany/affiliate receivable	(26)
Inventories	0	0
Assets held for sale		0
Prepaid expenses and other assets	0	0
Total current assets	(26)	0
Property, plant, and equipment, net	0	0
Intercompany/affiliate receivable	(1,422)	(1,457)
Intangibles and other assets, net	(5)	0
Total assets	(1,453)	(1,457)
LIABILITIES AND MEMBER'S EQUITY
Current intercompany/affiliate payable	(26)
Accrued liabilities	0	0
Current maturities of long-term debt	0
Liabilities related to assets held for sale		0
Total current liabilities	(26)
Intercompany/affiliate payable	(1,422)	(1,457)
Investment in subsidiaries	(366)	(816)
Long-term debt	(5)	0
Other liabilities	0	0
Member’s (deficit) equity	366	816
Total liabilities and equity	$ (1,453)	$ (1,457)

CONDENSED CONSOLIDATING FINAN67

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Balance Sheet (Nonprinting) (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Long-term note receivable	$ 0	$ 0
VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Long-term note receivable	23	$ 23
Guarantor Subsidiaries | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Long-term note receivable	$ 23

CONDENSED CONSOLIDATING FINAN68

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Operations and Comprehensive Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net sales	$ 782	$ 350	$ 2,366	$ 970
Cost of products sold (exclusive of depreciation, amortization, and depletion)	677	295	2,062	873
Depreciation, amortization, and depletion	60	23	181	74
Selling, general and administrative expenses	33	18	134	53
Restructuring charges	55		83	0
Interest expense	68	37	201	107
Other loss, net	0	14	0	33
Loss before income taxes	(111)	(37)	(295)	(170)
Income tax benefit	0	(1)	(2)	(1)
Net loss	(111)	(36)	(293)	(169)
Other comprehensive income	1	1	2	1
Comprehensive loss	(110)	(35)	(291)	(168)
VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net sales	782	350	2,366	970
Cost of products sold (exclusive of depreciation, amortization, and depletion)	677	295	2,062	873
Depreciation, amortization, and depletion	60	23	181	74
Selling, general and administrative expenses	33	18	134	53
Restructuring charges	55		83
Other operating income	0		0
Interest income	0	0	(1)	(1)
Interest expense	68	37	202	108
Other loss, net	0	14	0	33
Equity in net loss of subsidiaries	0	0	0	0
Loss before income taxes	(111)	(37)	(295)	(170)
Income tax benefit	0	0	(2)	0
Net loss	(111)	(37)	(293)	(170)
Other comprehensive income	1	1	2	1
Comprehensive loss	(110)	(36)	(291)	(169)
Parent Company | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net sales		0		0
Cost of products sold (exclusive of depreciation, amortization, and depletion)		0		0
Depreciation, amortization, and depletion		0		0
Selling, general and administrative expenses		0		0
Interest income	(47)	(36)	(142)	(106)
Interest expense	47	36	142	106
Equity in net loss of subsidiaries	(111)	(37)	(293)	(170)
Loss before income taxes	(111)		(293)
Income tax benefit	0		0
Net loss	(111)	(37)	(293)	(170)
Other comprehensive income	1	1	2	1
Comprehensive loss	(110)	(36)	(291)	(169)
Subsidiary Issuer | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net sales	0	0	0	0
Cost of products sold (exclusive of depreciation, amortization, and depletion)	0	0	0	0
Depreciation, amortization, and depletion	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Restructuring charges	0		0
Other operating income	0		0
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other loss, net		0		0
Equity in net loss of subsidiaries	0	0	0	0
Loss before income taxes	0		0
Income tax benefit	0		0
Net loss	0	0	0	0
Other comprehensive income	0	0	0	0
Comprehensive loss	0	0	0	0
Guarantor Subsidiaries | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net sales	264	350	767	970
Cost of products sold (exclusive of depreciation, amortization, and depletion)	219	295	665	874
Depreciation, amortization, and depletion	15	23	48	73
Selling, general and administrative expenses	17	18	68	54
Restructuring charges	53		70
Other operating income	(37)		(73)
Interest income	0	0	(1)	(1)
Interest expense	48	35	142	104
Other loss, net		14		33
Equity in net loss of subsidiaries		0		0
Loss before income taxes	(51)		(152)
Income tax benefit	0		0
Net loss	(51)	(35)	(152)	(167)
Other comprehensive income	1	1	2	1
Comprehensive loss	(50)	(34)	(150)	(166)
Non-Guarantor Subsidiaries | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net sales	537	0	1,640	0
Cost of products sold (exclusive of depreciation, amortization, and depletion)	477	0	1,439	0
Depreciation, amortization, and depletion	45		132
Selling, general and administrative expenses	16		67
Restructuring charges	2		13
Other operating income	$ 37		$ 73
Interest income		0		0
Interest expense	$ 20		$ 59
Other loss, net		0		0
Equity in net loss of subsidiaries		0		0
Loss before income taxes	(60)		(143)
Income tax benefit	0		(2)
Net loss	(60)	0	(141)	0
Comprehensive loss	(60)	0	(141)	0
Other | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net sales		1	1	2
Cost of products sold (exclusive of depreciation, amortization, and depletion)		1	0	1
Depreciation, amortization, and depletion	0	0	1	1
Selling, general and administrative expenses	0	0	(1)	(1)
Interest income	(1)	0	(1)	(1)
Interest expense	1	2	2	5
Other loss, net		0		0
Equity in net loss of subsidiaries		0		0
Loss before income taxes	0		0
Income tax benefit	0		0
Net loss	0	(2)	0	(3)
Comprehensive loss	0	(2)	0	(3)
Eliminations | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net sales	(19)	(1)	(42)	(2)
Cost of products sold (exclusive of depreciation, amortization, and depletion)	(19)	(1)	(42)	(2)
Depreciation, amortization, and depletion	0	0	0	0
Selling, general and administrative expenses		0		0
Interest income	48	36	143	107
Interest expense	(48)	(36)	(143)	(107)
Other loss, net		0		0
Equity in net loss of subsidiaries	111	37	293	170
Loss before income taxes	111		293
Income tax benefit	0		0
Net loss	111	37	293	170
Other comprehensive income	(1)	(1)	(2)	(1)
Comprehensive loss	$ 110	$ 36	$ 291	$ 169

CONDENSED CONSOLIDATING FINAN69

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Cash Flows (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	$ (284,000)	$ (68,000)
Cash Flows From Investing Activities:
Proceeds from sale of assets	51,000	0
Transfers from (to) restricted cash	1,000	1,000
Capital expenditures	(48,000)	(34,000)
Other investing activities	0	5,000
Acquisition, net of cash acquired	128,000	0
Acquisition of investment securities	(5,000)	0
Net cash provided by (used in) investing activities	127,000	(28,000)
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities	673,000	340,000
Payments on revolving credit facilities	(512,000)	(228,000)
Repayment of long-term debt	0	(13,000)
Debt issuance costs	0	(2,000)
Contribution from Verso	0	0
Payments to parent	0
Net cash provided by financing activities	161,000	97,000
Change in cash and cash equivalents	4,000	1,000
Cash and cash equivalents at beginning of period	6,000	11,000
Cash and cash equivalents at end of period	10,000	12,000
VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(284,000)	(69,000)
Cash Flows From Investing Activities:
Proceeds from sale of assets	51,000	0
Transfers from (to) restricted cash	1,000	1,000
Capital expenditures	(48,000)	(34,000)
Other investing activities	0	5,000
Acquisition, net of cash acquired	128,000	0
Acquisition of investment securities	(5,000)	0
Return of capital to Parent Issuer	0
Payments from subsidiaries	0	0
Net cash provided by (used in) investing activities	127,000	(28,000)
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities	673,000	340,000
Payments on revolving credit facilities	(512,000)	(228,000)
Repayment of long-term debt	0	(13,000)
Return of capital to Parent Issuer	0	0
Debt issuance costs	0	(2,000)
Contribution from Verso	0	1,000
Payments to parent	0	0
Net cash provided by financing activities	161,000	98,000
Change in cash and cash equivalents	4,000	1,000
Cash and cash equivalents at beginning of period	6,000	11,000
Cash and cash equivalents at end of period	10,000	12,000
Parent Company | VERSO PAPER HOLDINGS LLC
Cash Flows From Investing Activities:
Other investing activities		0
Acquisition, net of cash acquired	0
Acquisition of investment securities	0
Return of capital to Parent Issuer	73,000
Advances to subsidiaries	(375,000)	(278,000)
Payments from subsidiaries	250,000	218,000
Net cash provided by (used in) investing activities	(52,000)	(60,000)
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities	169,000	240,000
Payments on revolving credit facilities	(117,000)	(168,000)
Repayment of long-term debt		(13,000)
Return of capital to Parent Issuer	0	0
Contribution from Verso		1,000
Payments to parent	0	0
Net cash provided by financing activities	52,000	60,000
Cash and cash equivalents at end of period	0
Subsidiary Issuer | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	0	0
Cash Flows From Investing Activities:
Proceeds from sale of assets	0
Transfers from (to) restricted cash	0	0
Capital expenditures	0	0
Other investing activities		0
Acquisition, net of cash acquired	0
Acquisition of investment securities	0
Advances to subsidiaries	0	0
Payments from subsidiaries	0	0
Net cash provided by (used in) investing activities	0	0
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities	0	0
Payments on revolving credit facilities	0	0
Repayment of long-term debt		0
Return of capital to Parent Issuer	0	0
Debt issuance costs		0
Contribution from Verso		0
Advances from parent	0	0
Payments to parent		0
Net cash provided by financing activities	0	0
Change in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Guarantor Subsidiaries | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(136,000)	(69,000)
Cash Flows From Investing Activities:
Proceeds from sale of assets	50,000
Transfers from (to) restricted cash	0	2,000
Capital expenditures	(13,000)	(34,000)
Other investing activities		5,000
Acquisition, net of cash acquired	0
Acquisition of investment securities	0
Advances to subsidiaries		0
Payments from subsidiaries	0	0
Net cash provided by (used in) investing activities	37,000	(27,000)
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities		0
Payments on revolving credit facilities		0
Repayment of long-term debt		0
Return of capital to Parent Issuer	0
Debt issuance costs		0
Contribution from Verso		0
Advances from parent	294,000	278,000
Payments to parent	(198,000)	(181,000)
Net cash provided by financing activities	96,000	97,000
Change in cash and cash equivalents	(3,000)	1,000
Cash and cash equivalents at beginning of period	6,000	11,000
Cash and cash equivalents at end of period	3,000	12,000
Non-Guarantor Subsidiaries | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(148,000)
Cash Flows From Investing Activities:
Proceeds from sale of assets	1,000
Transfers from (to) restricted cash	0
Capital expenditures	(35,000)
Other investing activities		0
Acquisition, net of cash acquired	128,000
Acquisition of investment securities	(5,000)
Advances to subsidiaries	(51,000)	0
Payments from subsidiaries	51,000	0
Net cash provided by (used in) investing activities	89,000
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities	504,000	0
Payments on revolving credit facilities	(365,000)	0
Repayment of long-term debt		0
Return of capital to Parent Issuer	(73,000)	0
Debt issuance costs		0
Contribution from Verso		0
Advances from parent		0
Payments to parent	0	$ 0
Net cash provided by financing activities	66,000
Change in cash and cash equivalents	7,000
Cash and cash equivalents at end of period	7,000
Other | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities
Cash Flows From Investing Activities:
Transfers from (to) restricted cash	1,000	$ (1,000)
Other investing activities		0
Acquisition, net of cash acquired	0
Acquisition of investment securities	0
Advances to subsidiaries		0
Payments from subsidiaries	0	0
Net cash provided by (used in) investing activities	1,000	(1,000)
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities	51,000	100,000
Payments on revolving credit facilities	(81,000)	(60,000)
Repayment of long-term debt		0
Return of capital to Parent Issuer	0	(1,000)
Debt issuance costs		(2,000)
Contribution from Verso		0
Advances from parent	81,000	0
Payments to parent	(52,000)	(36,000)
Net cash provided by financing activities	(1,000)	1,000
Change in cash and cash equivalents		0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0
Eliminations | VERSO PAPER HOLDINGS LLC
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	0	0
Cash Flows From Investing Activities:
Proceeds from sale of assets	0
Transfers from (to) restricted cash	0	0
Capital expenditures	0	0
Other investing activities		0
Acquisition, net of cash acquired	0
Acquisition of investment securities	0
Return of capital to Parent Issuer	(73,000)
Advances to subsidiaries	426,000	278,000
Payments from subsidiaries	(301,000)	(218,000)
Net cash provided by (used in) investing activities	52,000	60,000
Cash Flows From Financing Activities:
Borrowings on revolving credit facilities	(51,000)	0
Payments on revolving credit facilities	51,000	0
Repayment of long-term debt		0
Return of capital to Parent Issuer	73,000	1,000
Debt issuance costs		0
Contribution from Verso		0
Advances from parent	(375,000)	(278,000)
Payments to parent	250,000	217,000
Net cash provided by financing activities	(52,000)	(60,000)
Change in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0