Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Sylvamo Corporation |
Entity Central Index Key | 0001856485 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Pay vs Performance Disclosure [Table] | ||
Pay vs Performance [Table Text Block] | Pay Versus Performance Our Committee designed an executive program majority paid Value of Initial Fixed $100 Investment Based Year (1) Summary for CEO ($) (2) Compensation Actually Paid to CEO ($) (3) Average Summary for Other Non-CEO (4) Average Actually Paid To Other Non-CEO (5) Total Peer Group (6) Net Income (7) Free Cash (8) 2022 6,910,195 9,884,131 1,808,233 2,451,556 125.14 102.31 118 332 2021 3,621,135 3,557,687 1,043,829 1,026,713 84.50 100.81 62 117 (1) On October 1, 2021, the Company spun off from International Paper and became a publicly traded company, as such we are reporting fiscal 2022 and the period October 1, 2021 through December 31, 2021. (2) The amounts shown in this column represent the total compensation, per the Summary Compensation Table, (see page 46), for our CEO, Mr. Ribiéras, for the period October 1, 2021 through December 31, 2021 and fiscal year 2022. (3) SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine “compensation actually paid” as reported above. The amounts shown do not necessarily reflect the actual amounts of compensation paid to our CEO or other NEOs during the applicable year as they include (i) the year-end Year/ Executive Summary Reported Value of Equity Awards ($) (a) Equity (b) Reported (c) Pension ($) (d) Compensation ($) 2022 CEO, Mr. Ribiéras 6,910,195 (3,880,598 ) 6,854,534 — — 9,884,131 Other NEOs 1,808,233 (721,762 ) 1,365,085 — — 2,451,556 Q4 2021 CEO, Mr. Ribiéras 3,621,135 (2,917,599 ) 2,854,151 — — 3,557,687 Other NEOs 1,043,829 (787,061 ) 769,945 — — 1,026,713 (a) The amounts shown in this column represent the grant date fair value of the equity awards to our CEO and other NEOs, as reported in the “Stock Awards” column in the SCT for each applicable year. (b) The amounts shown in this column represents the year-over-year change in the fair value of equity awards to our CEO and other NEOs, as itemized in the table below. 2022 2021 Fair Value of Equity Awards CEO Other NEOs CEO Other NEOs As of December 31, 2022 for unvested awards granted during the year 5,182,320 963,871 2,854,151 769,945 Year-over-year increase of unvested awards granted in prior years 1,433,089 338,448 — — Increase from prior fiscal year-end 239,125 62,766 — — Total Equity Award Adjustments 6,854,534 1,365,085 2,854,151 769,945 (c) Amounts shown represent the change in the actuarial present value of our CEO’s and other NEOs’ accumulated benefit under all benefit and actuarial pension plans in which they participant, as reported in the “Change in Pension Value & Nonqualified Deferred Compensation Earnings” column in the SCT. (d) Amounts shown represent the actuarially determined service cost for services rendered under all benefit and actuarial pension plans in which our CEO and other NEOs participate. (4) The amounts shown in this column represent the total compensation reported for our NEOs, other than the CEO, in the SCT. (5) The amounts shown in this column represent the total compensation, per the Summary Compensation Table, for our NEOs, other than the CEO, for the period October 1, 2021 through December 31, 2021 and fiscal year 2022. (6) The amounts shown in this column are in millions and reflect the cumulative total shareholder return of the S&P Small Cap Materials Index, as of December 31, 2022, weighted according to the constituent companies’ market capitalization at the beginning of each period for which a return is indicated. The S&P Small Cap Materials Index is the peer group used by Sylvamo for purposes of Item 201(e) of Regulation S-K 10-K (7) The amounts shown are in millions and reflect fiscal 2022 Net Income and Net Income for the period October 1, 2021 through December 31, 2021. (8) The amounts shown are in millions and reflect the Free Cash Flow for the year ended December 31, 2022 and 2021. See the reconciliation to GAAP on page 75. | |
Company Selected Measure Name | Free Cash Flow | |
Named Executive Officers, Footnote [Text Block] | Below is a calculation of “compensation actually paid” to the CEO and other NEOs (“Other NEOs”), which for 2022 are Messrs. Sims, Gibson, Barron and Wilczynski and for 2021 Messrs. Sims, Gibson, Cleves and Wilczynski | |
Peer Group Issuers, Footnote [Text Block] | The amounts shown in this column are in millions and reflect the cumulative total shareholder return of the S&P Small Cap Materials Index, as of December 31, 2022, weighted according to the constituent companies’ market capitalization at the beginning of each period for which a return is indicated. The S&P Small Cap Materials Index is the peer group used by Sylvamo for purposes of Item 201(e) of Regulation S-K 10-K | |
PEO Total Compensation Amount | $ 6,910,195 | $ 3,621,135 |
PEO Actually Paid Compensation Amount | $ 9,884,131 | 3,557,687 |
Adjustment To PEO Compensation, Footnote [Text Block] | (3) SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine “compensation actually paid” as reported above. The amounts shown do not necessarily reflect the actual amounts of compensation paid to our CEO or other NEOs during the applicable year as they include (i) the year-end Year/ Executive Summary Reported Value of Equity Awards ($) (a) Equity (b) Reported (c) Pension ($) (d) Compensation ($) 2022 CEO, Mr. Ribiéras 6,910,195 (3,880,598 ) 6,854,534 — — 9,884,131 Other NEOs 1,808,233 (721,762 ) 1,365,085 — — 2,451,556 Q4 2021 CEO, Mr. Ribiéras 3,621,135 (2,917,599 ) 2,854,151 — — 3,557,687 Other NEOs 1,043,829 (787,061 ) 769,945 — — 1,026,713 (a) The amounts shown in this column represent the grant date fair value of the equity awards to our CEO and other NEOs, as reported in the “Stock Awards” column in the SCT for each applicable year. (b) The amounts shown in this column represents the year-over-year change in the fair value of equity awards to our CEO and other NEOs, as itemized in the table below. 2022 2021 Fair Value of Equity Awards CEO Other NEOs CEO Other NEOs As of December 31, 2022 for unvested awards granted during the year 5,182,320 963,871 2,854,151 769,945 Year-over-year increase of unvested awards granted in prior years 1,433,089 338,448 — — Increase from prior fiscal year-end 239,125 62,766 — — Total Equity Award Adjustments 6,854,534 1,365,085 2,854,151 769,945 (c) Amounts shown represent the change in the actuarial present value of our CEO’s and other NEOs’ accumulated benefit under all benefit and actuarial pension plans in which they participant, as reported in the “Change in Pension Value & Nonqualified Deferred Compensation Earnings” column in the SCT. (d) Amounts shown represent the actuarially determined service cost for services rendered under all benefit and actuarial pension plans in which our CEO and other NEOs participate. | |
Non-PEO NEO Average Total Compensation Amount | $ 1,808,233 | 1,043,829 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 2,451,556 | 1,026,713 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (3) SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine “compensation actually paid” as reported above. The amounts shown do not necessarily reflect the actual amounts of compensation paid to our CEO or other NEOs during the applicable year as they include (i) the year-end Year/ Executive Summary Reported Value of Equity Awards ($) (a) Equity (b) Reported (c) Pension ($) (d) Compensation ($) 2022 CEO, Mr. Ribiéras 6,910,195 (3,880,598 ) 6,854,534 — — 9,884,131 Other NEOs 1,808,233 (721,762 ) 1,365,085 — — 2,451,556 Q4 2021 CEO, Mr. Ribiéras 3,621,135 (2,917,599 ) 2,854,151 — — 3,557,687 Other NEOs 1,043,829 (787,061 ) 769,945 — — 1,026,713 (a) The amounts shown in this column represent the grant date fair value of the equity awards to our CEO and other NEOs, as reported in the “Stock Awards” column in the SCT for each applicable year. (b) The amounts shown in this column represents the year-over-year change in the fair value of equity awards to our CEO and other NEOs, as itemized in the table below. 2022 2021 Fair Value of Equity Awards CEO Other NEOs CEO Other NEOs As of December 31, 2022 for unvested awards granted during the year 5,182,320 963,871 2,854,151 769,945 Year-over-year increase of unvested awards granted in prior years 1,433,089 338,448 — — Increase from prior fiscal year-end 239,125 62,766 — — Total Equity Award Adjustments 6,854,534 1,365,085 2,854,151 769,945 (c) Amounts shown represent the change in the actuarial present value of our CEO’s and other NEOs’ accumulated benefit under all benefit and actuarial pension plans in which they participant, as reported in the “Change in Pension Value & Nonqualified Deferred Compensation Earnings” column in the SCT. (d) Amounts shown represent the actuarially determined service cost for services rendered under all benefit and actuarial pension plans in which our CEO and other NEOs participate. | |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | ||
Compensation Actually Paid vs. Net Income [Text Block] | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | ||
Total Shareholder Return Vs Peer Group [Text Block] | ||
Tabular List [Table Text Block] | Performance Measures The list below illustrates the four most important financial performance measures and link the “compensation actually paid” to company performance for our CEO and other NEOs in 2022. Each of these metrics is described in more detail in the CD&A under the section “Elements of Our Executive Compensation Program” beginning on page 39. Financial Performance Measures Free Cash Flow Adjusted EBITDA Margin Return on Invested Capital Relative Total Shareholder Return | |
Total Shareholder Return Amount | $ 125.14 | 84.5 |
Peer Group Total Shareholder Return Amount | 102,310,000 | 100,810,000 |
Net Income (Loss) | $ 118,000,000 | $ 62,000,000 |
Company Selected Measure Amount | 332,000,000 | 117,000,000 |
PEO Name | Mr. Ribiéras | |
Measure [Axis]: 1 | ||
Pay vs Performance Disclosure [Table] | ||
Measure Name | Free Cash Flow | |
Non-GAAP Measure Description [Text Block] | The amounts shown are in millions and reflect the Free Cash Flow for the year ended December 31, 2022 and 2021. See the reconciliation to GAAP on page 75. | |
Measure [Axis]: 2 | ||
Pay vs Performance Disclosure [Table] | ||
Measure Name | Adjusted EBITDA Margin | |
Measure [Axis]: 3 | ||
Pay vs Performance Disclosure [Table] | ||
Measure Name | Return on Invested Capital | |
Measure [Axis]: 4 | ||
Pay vs Performance Disclosure [Table] | ||
Measure Name | Relative Total Shareholder Return | |
PEO [Member] | Reported Value of Equity Awards [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | $ (3,880,598) | $ (2,917,599) |
PEO [Member] | Equity Award Adjustments [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 6,854,534 | 2,854,151 |
PEO [Member] | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 0 | 0 |
PEO [Member] | Pension Benefit Adjustments [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 0 | 0 |
PEO [Member] | Unvested Awards Granted During the Year [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 5,182,320 | 2,854,151 |
PEO [Member] | Yearoveryear increase of unvested awards granted in prior years [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 1,433,089 | 0 |
PEO [Member] | Prior Fiscal Yearend for Awards that Vested During the Year [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 239,125 | 0 |
Non-PEO NEO [Member] | Reported Value of Equity Awards [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | (721,762) | (787,061) |
Non-PEO NEO [Member] | Equity Award Adjustments [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 1,365,085 | 769,945 |
Non-PEO NEO [Member] | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 0 | 0 |
Non-PEO NEO [Member] | Pension Benefit Adjustments [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 0 | 0 |
Non-PEO NEO [Member] | Unvested Awards Granted During the Year [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 963,871 | 769,945 |
Non-PEO NEO [Member] | Yearoveryear increase of unvested awards granted in prior years [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 338,448 | 0 |
Non-PEO NEO [Member] | Prior Fiscal Yearend for Awards that Vested During the Year [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | $ 62,766 | $ 0 |