Newpage 10-Q 1 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 15, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'ck0001578086	'
Entity Registrant Name	'NEWPAGE HOLDINGS INC.	'
Entity Central Index Key	'0001578086	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	7,080,192

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$8	$83
Restricted cash (Note 1)	7	0
Accounts receivable, net	216	204
Inventories (Note 3)	530	520
Other current assets	17	25
Total current assets	778	832
Property, plant and equipment, net of accumulated depreciation of $216 as of March 31, 2014 and $173 as of December 31, 2013	1,156	1,208
Other assets	159	135
TOTAL ASSETS	2,093	2,175
LIABILITIES AND EQUITY	'	'
Accounts payable	195	168
Other current liabilities	142	177
Current maturities of long-term debt (Note 4)	45	0
Total current liabilities	382	345
Long-term debt (Note 4)	737	487
Other long-term obligations	298	308
Commitments and contingencies (Note 8)	'	'
EQUITY	'	'
Preferred stock, 100,000 shares authorized, $0.001 per share par value	0	0
Common stock, par value $0.001 (16,000,000 shares authorized with 7,104,079 shares issued and 7,092,477 outstanding on March 31, 2014, and with 7,093,924 shares issued and 7,087,239 outstanding on December 31, 2013)	0	0
Treasury stock, at cost (11,602 shares on March 31, 2014 and 6,685 shares on December 31, 2013)	-1	0
Additional paid-in capital	572	814
Accumulated deficit	-103	-2
Accumulated other comprehensive income (loss)	208	223
Total equity	676	1,035
TOTAL LIABILITIES AND EQUITY	$2,093	$2,175

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Property, plant and equipment, accumulated depreciation	$260	$173
Preferred stock, shares authorized	100,000	100,000
Preferred stock, par value	$0.00	$0.00
Common stock, shares authorized	16,000,000	16,000,000
Common stock, shares issued	7,104,079	7,093,924
Common stock, shares outstanding	7,092,477	7,087,239
Common stock, par value	$0.00	$0.00
Treasury stock, shares	11,602	6,685

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Net sales	$733	$720	$1,490	$1,476
Cost of sales	714	686	1,469	1,401
Selling, general and administrative expenses	28	34	52	75
Interest expense (Note 4)	21	13	70	24
Income (loss) before income taxes	-30	-13	-101	-24
Income tax (benefit)	0	0	0	0
Net income (loss)	($30)	($13)	($101)	($24)
Net income (loss) per share:	'	'	'	'
Basic and Diluted (in dollars per share)	($4.24)	($1.84)	($14.25)	($3.34)
Weighted average common shares outstanding:	'	'	'	'
Basic and Diluted (in shares)	7,092,477	7,080,000	7,090,989	7,080,000
Cash dividends paid per common share	$0	$0	$34.35	$0

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income (loss)	($30)	($13)	($101)	($24)
Defined-benefit postretirement plans:	'	'	'	'
Change in net actuarial gains (losses)	-13	-5	-15	-5
Cash-flow hedges:	'	'	'	'
Change in unrealized gains (losses)	0	-1	3	-1
Reclassification adjustment to net income (loss)	-1	0	-3	0
Other comprehensive income (loss), net of tax	-14	-6	-15	-6
Comprehensive income (loss)	($44)	($19)	($116)	($30)

CONSOLIDATED_STATEMENT_OF_EQUI

CONSOLIDATED STATEMENT OF EQUITY (DEFICIT) (USD $)	Total	Common Stock	Treasury Stock [Member]	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
In Millions, except Share data, unless otherwise specified	USD ($)		USD ($)	USD ($)	USD ($)	USD ($)
Beginning Balance at Dec. 31, 2013	$1,035	'	$0	$814	($2)	$223
Beginning Balance (in shares) at Dec. 31, 2013	'	7,093,924	-6,685	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Net income (loss)	-101	'	'	'	-101	'
Common stock issued for restricted stock, net (in shares)	'	10,155	-4,917	'	'	'
Common stock issued for restricted stock, net	'	'	-1	1	'	'
Common stock dividends	-243	'	'	-243	'	'
Other comprehensive income (loss)	-15	'	'	'	'	-15
Ending Balance at Jun. 30, 2014	$676	'	($1)	$572	($103)	$208
Ending Balance (in shares) at Jun. 30, 2014	'	7,104,079	-11,602	'	'	'

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net income (loss)	($101)	($24)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:	'	'
Depreciation and amortization	92	91
Non-cash interest expense	3	3
Non-cash loss on extinguishment/modification of debt (Note 4)	23	0
(Gain) loss on disposal of assets	1	1
Pension expense (income)	-5	2
Pension funding	-15	-9
Equity award expense (income) (Note 5)	-2	8
Deferred income taxes	1	0
Change in operating assets and liabilities:	'	'
Accounts receivable	-12	-1
Inventories	-10	-63
Other operating assets	-13	-19
Accounts payable	27	-18
Accrued expenses and other obligations	-40	6
Net cash provided by (used for) operating activities	-51	-23
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Capital expenditures	-39	-31
Proceeds from sales of assets	4	'
Restricted cash	-7	0
Net cash provided by (used for) investing activities	-42	-31
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Payment of financing costs	-28	-1
Proceeds from issuance of long-term debt	735	0
Repayments of long-term debt	-495	-3
Common stock cash dividends paid (Note 5)	-243	0
Acquisition of treasury stock	-1	0
Borrowings on revolving credit facility	319	171
Payments on revolving credit facility	-269	-152
Net cash provided by (used for) financing activities	18	15
Net increase (decrease) in cash and cash equivalents	-75	-39
Cash and cash equivalents at beginning of period	83	43
Cash and cash equivalents at end of period	$8	$4

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
ORGANIZATION AND BASIS OF PRESENTATION	'
	ORGANIZATION AND BASIS OF PRESENTATION
	NewPage Holdings Inc. (“NewPage Holdings”) is a holding company that owns all of the outstanding capital stock of NewPage Investment Company LLC (“NewPage Investment”), which is a holding company that owns all of the outstanding capital stock of NewPage Corporation (“NewPage”). NewPage and its subsidiaries are engaged in manufacturing, marketing and distributing printing papers used primarily for commercial printing, magazines, catalogs, textbooks and labels. Our products include coated, uncoated, supercalendered and specialty papers and market pulp. Our products are manufactured at multiple mills in the United States and are supported by multiple distribution and converting locations. We operate within one operating segment. The interim condensed consolidated financial statements include the accounts of NewPage Holdings and all entities it controls. All intercompany transactions and balances have been eliminated. Unless the context provides otherwise, the terms “we,” “our” and “us” refer to NewPage Holdings and its consolidated subsidiaries.
	These interim condensed consolidated financial statements have not been audited. However, in the opinion of management, these financial statements include all normal recurring adjustments necessary for a fair statement in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain information and footnote disclosures normally included in annual financial statements presented in accordance with U.S. GAAP have been condensed or omitted. The results of operations and cash flows for the interim periods presented are not necessarily indicative of the results to be expected for the full year. The December 31, 2013 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The accompanying financial statements should be read in conjunction with the annual financial statements and notes thereto included in our annual report on Form 10-K for the year ended December 31, 2013.
	Agreement and Plan of Merger
	On January 3, 2014, NewPage Holdings, Verso Paper Corp., (“Verso”), and Verso Merger Sub Inc., a Delaware corporation and an indirect, wholly owned subsidiary of Verso (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Merger Sub will merge with and into NewPage Holdings on the terms and subject to the conditions set forth in the Merger Agreement (the “Merger”), with NewPage Holdings surviving the Merger as an indirect, wholly owned subsidiary of Verso.
	The Merger Agreement provides for a series of transactions pursuant to which equity holders of NewPage Holdings will receive (i) approximately $250 in cash as a special distribution ("Special Distribution"), approximately $243 of which was paid as a common stock dividend to the stockholders of record on February 14, 2014, with the remaining $7 paid into an escrow account (restricted cash) for the benefit of the holders of NewPage Holdings restricted stock units and stock options, from the proceeds of a new $750 bank borrowing that also refinanced NewPage Holdings' former $500 term loan facility; plus the cash actually received by NewPage Holdings in respect of any exercises of NewPage Holdings stock options between the date of the Merger Agreement and the closing of the Merger; (ii) $650 aggregate principal amount of new Verso 11.75% first lien notes (valued at face value) to be issued at closing; and (iii) shares of Verso common stock representing 20% (subject to potential upward adjustment to 25% under certain circumstances) of the sum of the outstanding shares of Verso common stock as of immediately prior to closing of the Merger and the shares, if any, underlying vested, in-the-money stock options as of the signing of the agreement.
	On July 2, 2014, Verso launched exchange offers and consent solicitations with respect to its outstanding fixed-rate second lien notes and senior subordinated notes. On July 11, 2014, Verso's Registration Statement on Form S-4, as amended, with respect to the Verso common stock and Verso 11.75% first lien notes that form components of the merger consideration, became effective. Also on July 11, 2014, NewPage Holdings filed an Information Statement on Schedule 14C (the "Information Statement") with the SEC and commenced the mailing of the Information Statement to its stockholders on or about the same date. On July 16, 2014, NewPage Holdings received the written consents signed by a sufficient number of holders of shares of NewPage common stock to adopt the Merger Agreement and approve the Merger and other transactions contemplated by the Merger Agreement (the “Company Stockholder Approval”). On July 24, 2014, Verso extended the deadline and amended the terms for the exchange offer and consent solicitation with respect to its outstanding senior subordinated notes. On July 29, 2014, Verso filed a post-effective amendment to the Form S-4, which was declared effective on July 31, 2014. On July 31, 2014, Verso announced that it received tenders from holders of its outstanding fixed-rate second lien notes and senior subordinated notes in excess of the minimum participation conditions for the exchange offers, and that it received the requisite consents for the proposed amendments to the indentures pursuant to which the outstanding fixed-rate second lien notes and senior subordinated notes were issued. Obtaining the Company Stockholder Approval, the consummation of the exchange offers and consent solicitations, and the Form S-4, as amended, becoming effective are conditions precedent to the closing of the Merger.
	On February 28, 2014, Verso and NewPage Holdings filed Notification and Report Forms with the Antitrust Division of the Department of Justice (“DOJ”) and Federal Trade Commission. On March 31, 2014, the parties received a Request for Additional Information and Documentary Materials, referred to as a “second request,” from the DOJ regarding the Merger. The effect of the second request was to extend the waiting period imposed by the HSR Act until 30 days after each party has substantially complied with the second request, unless that period is terminated sooner by the DOJ or is extended by the agreement of the parties and the DOJ. The parties have responded to the second request and have stated that they will continue to work cooperatively with the DOJ in connection with this review.

FINANCIAL_INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2014
Investments, All Other Investments [Abstract]	'
FINANCIAL INSTRUMENTS	'
	FINANCIAL INSTRUMENTS
	Derivative Financial Instruments
	We periodically use derivative financial instruments as part of our overall strategy to manage exposure to market risks associated with natural gas price fluctuations. We do not hold or issue derivative financial instruments for trading purposes. We regularly monitor the credit-worthiness of the counterparties to our derivative instruments in order to manage our credit risk exposures under these agreements. Our risk of loss, if any, in the event of nonperformance by any counterparty under derivative financial instrument agreements is not considered material. These derivative instruments are measured at fair value and are classified as other assets or other liabilities on our condensed consolidated balance sheets depending on the fair value of the instrument.
	For a derivative designated as a cash-flow hedge, the effective portion of the change in the fair value of the derivative is recorded in Accumulated other comprehensive income (loss) and is recognized in the Consolidated Statements of Operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash-flow hedges and derivative financial instruments not designated as hedges are recognized immediately in earnings.
	Natural Gas
	In order to hedge the future cost of natural gas consumed at our mills, we engage in financial hedging of future gas purchase prices. We hedge with natural gas swap agreements that are priced based on New York Mercantile Exchange (“NYMEX”) natural gas futures contracts. We measure the fair values of our natural gas contracts based on natural gas futures contracts priced on the NYMEX. As of June 30, 2014, we were party to natural gas swap agreements for notional amounts aggregating to 4,440,000 MMBTUs, or approximately $18 of planned natural gas purchases over the term of these agreements. These natural gas swap agreements expire through September 2015 and represent approximately 40% of our total planned natural gas consumption over the term of the agreements.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
INVENTORIES	'
	INVENTORIES
	Inventories as of June 30, 2014 and December 31, 2013 consist of:
		June 30,		Dec. 31,
		2014		2013
	Finished and in-process goods	$	341	$	343
	Raw materials	91		86
	Stores and supplies	98		91
		$	530	$	520
	Approximately 82% of inventories at June 30, 2014 and December 31, 2013 are valued using the LIFO method. If inventories had been valued at current costs, they would have been valued at $513 and $489 at June 30, 2014 and December 31, 2013.

LONGTERM_DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
LONG-TERM DEBT	'
	LONG-TERM DEBT
	Long-term debt as of June 30, 2014 and December 31, 2013 is as follows:
		June 30,		Dec. 31,
		2014		2013
	Floating rate senior secured term loan (LIBOR plus 8.25%)	$	732	$	—
	Floating rate senior secured exit term loan (LIBOR plus 6.50%)	—		487
	Revolving credit facility	50		—
	Total long-term debt, including current portion	782		487
	Less: Current portion of long-term debt	45		—
	Long-term debt	$	737	$	487
	In connection with the debt refinancing on February 11, 2014, we recognized a loss on extinguishment/modification of debt totaling $34 recorded in interest expense. This amount includes the write-off of $4 of unamortized debt issuance cost on the former revolving credit facility and charges associated with the former term loan facility consisting of an $8 prepayment penalty, the write-off of $12 of unamortized debt issuance cost, the write-off of $7 of unamortized discount and $3 of fees paid in connection with the refinancing.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
EQUITY	'
	EQUITY
	We sponsor a long-term incentive plan to provide for the granting of stock-based compensation to certain directors, officers and other key employees. Outstanding grants become exercisable over a four-year service period and have a term of 7 years from the grant date. The awards meet liability classification requirements as a result of planned tax withholdings in excess of minimum statutory levels. These awards are re-measured at fair value as of each balance sheet date with the cumulative effect of changes in fair value recognized in the period of change as an adjustment to compensation expense.
	Upon payment of the Special Distribution (See Note 1), all outstanding stock options were modified to reduce the exercise price of each stock option by the amount of the per share Special Distribution ($34.35 per share) and each restricted stock unit received a dividend equivalent right, which entitles its holder to receive a cash payment equal to the per share Special Distribution, payable when the underlying unit vests.
	The key weighted-average assumptions used in our June 30, 2014 fair value re-measurement of stock options outstanding under liability classification were: expected volatility of 37%; risk-free interest rate ranging from 0.96% to 1.03%; a weighted average expected life of options of 3.4 years; and dividend rate of 0.0%. The weighted-average fair value of the stock options outstanding as of June 30, 2014 was $19.91. As of June 30, 2014, we had unrecognized compensation expense of $4 related to non-vested options and $5 related to non-vested restricted stock units, each of which is expected to be recognized over a weighted average period of 3 years. Total compensation expense (income) for all stock-based awards in the three months ended June 30, 2014 and 2013 was $1 and $4 and for the six months ended June 30, 2014 and 2013 it was $(2) and $8.
	On July 15, 2014, pursuant to the Chapter 11 Plan of Reorganization ("POR"), 12,285 unclaimed and undistributed shares of common stock became treasury shares in accordance with the POR.

RETIREMENT_AND_OTHER_POSTRETIR

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
RETIREMENT AND OTHER POSTRETIREMENT BENEFITS	'
	RETIREMENT AND OTHER POSTRETIREMENT BENEFITS
	A summary of the components of net periodic costs in the three months and six months ended June 30, 2014 and 2013 is as follows:
	Pension Plans
		Three Months			Three Months
		Ended June 30,			Ended June 30,
		2014			2013
	Service cost	$	2		$	3
	Interest cost	17			16
	Expected return on plan assets	(19		)	(18		)
	Amortization of net actuarial (gains) losses	(2		)	—
	Net periodic cost (income)	$	(2	)	$	1
		Six Months			Six Months
		Ended June 30,			Ended June 30,
		2014			2013
	Service cost	$	5		$	7
	Interest cost	33			31
	Expected return on plan assets	(39		)	(36		)
	Amortization of net actuarial (gains) losses	(4		)	—
	Net periodic cost (income)	$	(5	)	$	2
	Other Postretirement Plans
		Three Months			Three Months
		Ended June 30,			Ended June 30,
		2014			2013
	Service cost	$	—		$	—
	Interest cost	—			—
	Net periodic cost (income)	$	—		$	—
		Six Months			Six Months
		Ended June 30,			Ended June 30,
		2014			2013
	Service cost	$	—		$	—
	Interest cost	1			1
	Net periodic cost (income)	$	1		$	1

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	INCOME TAXES
	In the six months ended June 30, 2014 and 2013, we recorded a valuation allowance against our net deferred income tax benefit for federal income taxes and for certain states as it was more likely than not that we would not realize those benefits.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	COMMITMENTS AND CONTINGENCIES
	We are involved in various litigation and administrative proceedings that arise in the ordinary course of business. We believe the expected outcome of any matter, lawsuit or claim that is pending or threatened, or all of the combined, will not have a material adverse effect on our financial condition, results of operations or liquidity.

RECENTLY_ISSUED_ACCOUNTING_STA

RECENTLY ISSUED ACCOUNTING STANDARDS	6 Months Ended
	Jun. 30, 2014
Recent Accounting Pronouncements [Abstract]	'
RECENTLY ISSUED ACCOUNTING STANDARDS	'
	RECENTLY ISSUED ACCOUNTING STANDARDS
	Revenue Recognition
	In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2014-09, Revenue From Contracts with Customers (Topic 606) (ASU 2014-09), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. This guidance is effective for us as of January 1, 2017. We are currently evaluating the potential effect of the adoption of this guidance on our consolidated financial position, results of operations and cash flows.

INVENTORIES_Tables

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Inventories	'
	Inventories as of June 30, 2014 and December 31, 2013 consist of:
		June 30,		Dec. 31,
		2014		2013
	Finished and in-process goods	$	341	$	343
	Raw materials	91		86
	Stores and supplies	98		91
		$	530	$	520

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Balances of Long-Term Debt	'
	Long-term debt as of June 30, 2014 and December 31, 2013 is as follows:
		June 30,		Dec. 31,
		2014		2013
	Floating rate senior secured term loan (LIBOR plus 8.25%)	$	732	$	—
	Floating rate senior secured exit term loan (LIBOR plus 6.50%)	—		487
	Revolving credit facility	50		—
	Total long-term debt, including current portion	782		487
	Less: Current portion of long-term debt	45		—
	Long-term debt	$	737	$	487

RETIREMENT_AND_OTHER_POSTRETIR1

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
Components of Net Periodic Costs	'
	A summary of the components of net periodic costs in the three months and six months ended June 30, 2014 and 2013 is as follows:
	Pension Plans
		Three Months			Three Months
		Ended June 30,			Ended June 30,
		2014			2013
	Service cost	$	2		$	3
	Interest cost	17			16
	Expected return on plan assets	(19		)	(18		)
	Amortization of net actuarial (gains) losses	(2		)	—
	Net periodic cost (income)	$	(2	)	$	1
		Six Months			Six Months
		Ended June 30,			Ended June 30,
		2014			2013
	Service cost	$	5		$	7
	Interest cost	33			31
	Expected return on plan assets	(39		)	(36		)
	Amortization of net actuarial (gains) losses	(4		)	—
	Net periodic cost (income)	$	(5	)	$	2
	Other Postretirement Plans
		Three Months			Three Months
		Ended June 30,			Ended June 30,
		2014			2013
	Service cost	$	—		$	—
	Interest cost	—			—
	Net periodic cost (income)	$	—		$	—
		Six Months			Six Months
		Ended June 30,			Ended June 30,
		2014			2013
	Service cost	$	—		$	—
	Interest cost	1			1
	Net periodic cost (income)	$	1		$	1

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION - Additional Information (Detail) (USD $)	0 Months Ended		6 Months Ended					0 Months Ended
In Millions, unless otherwise specified	Feb. 14, 2014	Jan. 03, 2014	Jun. 30, 2014	Jun. 30, 2013	Jan. 03, 2014	Dec. 31, 2013	Jan. 03, 2014	Jan. 03, 2014	Jan. 03, 2014
			Segment		Loans Payable [Member]	Loans Payable [Member]	Senior Notes [Member]	Minimum [Member]	Maximum [Member]
							Verso [Member]	Verso [Member]	Verso [Member]
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'	'	'	'	'
Number of operating segment	'	'	1	'	'	'	'	'	'
Payments of Capital Distribution	$243	$250	$243	$0	'	'	'	'	'
Payments of Capital Distributions, Amount in Escrow	7	'	'	'	'	'	'	'	'
Debt Instrument, Face Amount	'	'	'	'	$750	$500	$650	'	'
Debt Instrument, Interest Rate, Stated Percentage	'	'	'	'	'	'	11.75%	'	'
Merger Consideration, Common Stock Outstanding, Percentage	'	'	'	'	'	'	'	20.00%	25.00%

FINANCIAL_INSTRUMENTS_Addition

FINANCIAL INSTRUMENTS - Additional Information (Detail) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
	MMBTU
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Natural gas futures contracts for notional amounts	4,440,000,000,000
Planned natural gas purchases notional amount	$18
Natural gas futures contracts for notional amounts, expire	'2015-09
Planned natural gas consumption covered under the swap agreement	40.00%

INVENTORIES_Detail

INVENTORIES (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Finished and in-process goods	$341	$343
Raw materials	91	86
Stores and supplies	98	91
Inventories	$530	$520

INVENTORIES_Additional_Informa

INVENTORIES - Additional Information (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Percentage of LIFO inventory	82.00%	82.00%
Inventories valued at current costs	$513	$489

LONGTERM_DEBT_Balances_of_Long

LONG-TERM DEBT - Balances of Long-Term Debt (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Debt Instrument [Line Items]	'	'
Total long-term debt, including current portion	$782	$487
Current portion of long-term debt	45	0
Long-term debt	737	487
Revolving credit facility [Member]	'	'
Debt Instrument [Line Items]	'	'
Total long-term debt, including current portion	50	0
Term Loan, LIBOR plus 8.25% [Member] | Floating rate senior secured term loan [Member]	'	'
Debt Instrument [Line Items]	'	'
Total long-term debt, including current portion	732	0
Term Loan, LIBOR plus 6.50% [Member] | Floating rate senior secured term loan [Member]	'	'
Debt Instrument [Line Items]	'	'
Total long-term debt, including current portion	$0	$487

LONGTERM_DEBT_Balances_of_Long1

LONG-TERM DEBT - Balances of Long-Term Debt (Parenthetical) (Detail) (LIBOR [Member], Floating rate senior secured term loan [Member])	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Term Loan, LIBOR plus 8.25% [Member]	'	'
Debt Instrument [Line Items]	'	'
Floating rate senior secured term loan, marginal rate	8.25%	8.25%
Term Loan, LIBOR plus 6.50% [Member]	'	'
Debt Instrument [Line Items]	'	'
Floating rate senior secured term loan, marginal rate	6.50%	6.50%

LONGTERM_DEBT_Additional_Infor

LONG-TERM DEBT - Additional Information (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Debt Instrument [Line Items]	'	'
Loss on extinguishment/modification of debt	($23)	$0
Revolving credit facility [Member]	'	'
Debt Instrument [Line Items]	'	'
Write-off of unamortized debt issuance cost	-4	'
Floating rate senior secured term loan [Member]	'	'
Debt Instrument [Line Items]	'	'
Write-off of unamortized debt issuance cost	-12	'
Prepayment penalty	8	'
Write-off of unamortized discount	-7	'
Fees for refinancing	3	'
Interest Expense [Member]	'	'
Debt Instrument [Line Items]	'	'
Loss on extinguishment/modification of debt	$34	'

EQUITY_Additional_Information_

EQUITY - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended						0 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jul. 15, 2014
					Options [Member]	Restricted stock units [Member]	Minimum [Member]	Maximum [Member]	Subsequent Event [Member]
							Options [Member]	Options [Member]	Plan of Reorganization, Common Stock to Treasury Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'	'	'
Requisite service period for outstanding grants become exercisable	'	'	'4 years	'	'	'	'	'	'
Grants, expiration period	'	'	'7 years	'	'	'	'	'	'
Cash dividends paid per common share	$0	$0	$34.35	$0	'	'	'	'	'
Weighted-average assumptions, expected volatility	'	'	'	'	37.00%	'	'	'	'
Weighted-average assumptions, risk-free interest rate	'	'	'	'	'	'	0.96%	1.03%	'
Weighted-average assumptions, weighted average expected life of options	'	'	'	'	'3 years 4 months 24 days	'	'	'	'
Weighted-average assumptions, dividend rate	'	'	'	'	0.00%	'	'	'	'
Weighted-average fair value of stock options outstanding (dollars per share)	'	'	'	'	$19.91	'	'	'	'
Unrecognized compensation expense, non-vested options	$4	'	$4	'	'	'	'	'	'
Unrecognized compensation expense, non-vested restricted stock units	'	'	'	'	'	5	'	'	'
Weighed average period that compensation cost will be recognized	'	'	'	'	'3 years	'3 years	'	'	'
Total stock compensation expense	$1	$4	($2)	$8	'	'	'	'	'
Shares converted	'	'	'	'	'	'	'	'	12,285

RETIREMENT_AND_OTHER_POSTRETIR2

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS - Components of Net Periodic Costs (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Pension Plans	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	$2	$3	$5	$7
Interest cost	17	16	33	31
Expected return on plan assets	-19	-18	-39	-36
Amortization of net actuarial (gains) losses	-2	0	-4	0
Net periodic cost (income)	-2	1	-5	2
Other Postretirement Plans	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	0	0	0	0
Interest cost	0	0	1	1
Net periodic cost (income)	$0	$0	$1	$1