Sylvamo (SLVM) 10-K 22 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 17, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40718
Entity Registrant Name	SYLVAMO CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-2596371
Entity Address, Address Line One	6077 Primacy Parkway
Entity Address, City or Town	Memphis
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38119
City Area Code	901
Local Phone Number	519-8000
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	SLVM
Security Exchange Name	NYSE
Entity Central Index Key	0001856485
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Documents Incorporated by Reference [Text Block]	Documents incorporated by reference: Portions of the registrant’s proxy statement filed within 120 days of the close of the registrant’s fiscal year in connection with the registrant’s 2023 annual meeting of shareholders are incorporated by reference into Part III of this Form 10-K.
Entity Public Float			$ 1,439,440,960
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,371,538

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Memphis, Tennessee
Auditor Firm ID	34

CONSOLIDATED AND COMBINED STATE

CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
NET SALES	$ 3,628	$ 2,828	$ 2,385
COSTS AND EXPENSES
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)	2,619	2,143	1,929
Selling and administrative expenses	325	207	202
Depreciation, amortization and cost of timber harvested	125	126	135
Taxes other than payroll and income taxes	23	25	28
Interest expense (income), net	69	(1)	(4)
Income from continuing operations before income taxes	467	328	95
Income tax provision	131	101	8
Net income from continuing operations	336	227	87
Discontinued Operations, net of taxes	(218)	104	83
NET INCOME	$ 118	$ 331	$ 170
BASIC EARNINGS PER SHARE
Income (Loss) from Continuing Operations, Per Basic Share	$ 7.65	$ 5.16	$ 1.97
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	(4.97)	2.37	1.88
Net earnings (loss) - basic (in dollars per share)	2.68	7.53	3.85
DILUTED EARNINGS PER SHARE
Income (Loss) from Continuing Operations, Per Diluted Share	7.57	5.16	1.97
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	(4.91)	2.37	1.88
Net earnings (loss) - diluted (in dollars per share)	$ 2.66	$ 7.53	$ 3.85

CONSOLIDATED AND COMBINED STA_2

CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 118	$ 331	$ 170
Defined Benefit Pension and Postretirement Adjustments:
Amortization of pension and postretirement net loss	0	1	1
Pension and postretirement liability adjustments (less tax of $(1), $0 and $1)	4	(3)	(5)
Change in cumulative foreign currency translation adjustment	56	(173)	(246)
Net gains/losses on cash flow hedging derivatives:
Net gains (losses) arising during the period (less tax of $(17), $1 and $13)	41	(2)	(25)
Reclassification adjustment for (gains) losses included in net earnings (less tax of $7, $0 and ($12))	(13)	(1)	24
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	88	(178)	(251)
COMPREHENSIVE INCOME (LOSS)	$ 206	$ 153	$ (81)

CONSOLIDATED AND COMBINED STA_3

CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Tax on pension and postretirement liability adjustments	$ (1)	$ 0	$ 1
Tax on net gains (losses) arising during period on cash flow hedges	(17)	1	13
Tax on reclassification adjustment for (gains) losses included in earnings on cash flow hedges	$ 7	$ 0	$ (12)

CONSOLIDATED AND COMBINED BALAN

CONSOLIDATED AND COMBINED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash and temporary investments	$ 360	$ 159
Accounts and notes receivable (less allowances of $20 in 2022 and $19 in 2021)	450	402
Contract assets	30	26
Inventories	364	279
Assets held for sale	0	179
Other current assets	39	63
Total Current Assets	1,243	1,108
Plants, Properties and Equipment, net	817	764
Forestlands	322	278
Goodwill	128	122
Right of Use Assets	35	40
Long-Term Assets Held for Sale	0	141
Deferred Charges and Other Assets	165	144
TOTAL ASSETS	2,710	2,597
Current Liabilities
Accounts payable	453	387
Notes payable and current maturities of long-term debt	29	41
Accrued payroll and benefits	81	48
Liabilities held for sale	0	91
Other current liabilities	165	191
Total Current Liabilities	728	758
Long-Term Debt	1,003	1,357
Deferred Income Taxes	183	169
Long-Term Liabilities Held for Sale	0	13
Other Liabilities	118	118
Commitments and Contingent Liabilities (Note 13)
Equity
Common stock $1.00 par value, 200.0 shares authorized, 42.6 shares and 43.9 shares outstanding at December 31, 2022 and 2021, respectively	44	44
Paid-in capital	25	4
Retained earnings	2,029	1,935
Accumulated other comprehensive loss	(1,338)	(1,801)
Stockholders' Equity before Treasury Stock	760	182
Less: Common stock held in treasury, at cost, 1.6 shares and 0.0 shares at December 31, 2022 and December 31, 2021, respectively	(82)	0
Total Equity	678	182
TOTAL LIABILITIES AND EQUITY	$ 2,710	$ 2,597

CONSOLIDATED AND COMBINED BAL_2

CONSOLIDATED AND COMBINED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for expected credit losses	$ 20	$ 19
Common stock, par value (in dollars per share)	$ 1
Common stock, shares authorized (in shares)	200,000,000
Common shares outstanding (in shares)	42,600,000	43,900,000
Treasury Stock, Shares	1,600,000	0

CONSOLIDATED AND COMBINED STA_4

CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Cash Flows [Abstract]
Net income from continuing operations	$ 336	$ 227	$ 87
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Depreciation, amortization and cost of timber harvested	125	126	135
Deferred income tax provision (benefit), net	(7)	(6)	(49)
Stock-based compensation	20	14	15
Changes in operating assets and liabilities and other
Accounts and notes receivable	(45)	(99)	58
Inventories	(99)	12	70
Accounts payable and accrued liabilities	48	196	(56)
Other	40	(47)	(15)
CASH PROVIDED BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS	418	423	245
CASH PROVIDED BY OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	20	126	114
CASH PROVIDED BY OPERATING ACTIVITIES	438	549	359
INVESTMENT ACTIVITIES
Invested in capital projects	(149)	(69)	(66)
Cash pool arrangements with Parent	0	181	(3)
Cash proceeds on disposal of business, net of cash divested	324	0	0
Other	10	1	1
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM CONTINUING OPERATIONS	185	113	(68)
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	(5)	14	(11)
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES	180	127	(79)
FINANCING ACTIVITIES
Net transfers from Parent	0	(456)	(340)
Special payment to Parent	0	(1,520)	0
Dividends paid	(10)	0	0
Issuance of debt	75	1,501	0
Reduction of debt	(450)	(129)	(10)
Repurchases of common stock	(80)	0	0
Other	(4)	16	0
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES FROM CONTINUING OPERATIONS	(469)	(588)	(350)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	(1)	(1)	0
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	(470)	(589)	(350)
Effect of Exchange Rate Changes on Cash	32	(2)	30
Change in Cash Included in Assets Held for Sale	(21)	(4)	(21)
Change in Cash and Temporary Investments	201	89	(19)
Beginning of the period	159	70	89
End of the period	$ 360	$ 159	$ 70

CONSOLIDATED AND COMBINED STA_5

CONSOLIDATED AND COMBINED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Paid-In Capital	Retained Earnings	Parent Company Investment	Parent Company Investment Cumulative Effect, Period of Adoption, Adjustment	Accumulated  Other Comprehensive Loss	Treasury Stock, Common	Treasury Stock, Common Treasury Stock, Common
Beginning balance (in shares) at Dec. 31, 2019			0
Balance at beginning of period at Dec. 31, 2019	$ 2,517	$ 1	$ 0	$ 0	$ 0	$ 3,746	$ 1	$ (1,229)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net transfers (to) from Parent	(325)					(325)
Stockholder's Equity, Disposal of Business								0
Comprehensive income (loss)	(81)					170		(251)
Ending balance (in shares) at Dec. 31, 2020			0
Balance at end of period at Dec. 31, 2020	2,112		$ 0	0	0	3,592		(1,480)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net transfers (to) from Parent	(567)					(424)		(143)
Special payment to Parent	(1,520)					(1,520)
Reclassification of Parent company investment	0				1,917	(1,917)
Issuance of common stock at spin-off					(44)
Stock-based employee compensation	4			4
Stockholder's Equity, Disposal of Business								0
Comprehensive income (loss)	$ 153				62	269		(178)
Ending balance (in shares) at Dec. 31, 2021	43,900,000		44,000,000
Balance at end of period at Dec. 31, 2021	$ 182		$ 44	4	1,935	0		(1,801)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock at spin-off (in shares)			44,000,000
Issuance of common stock at spin-off	0		$ (44)
Stock-based employee compensation	19			21					(2)
Stockholder's Equity, Disposal of Business	(375)							(375)
Stock Repurchased During Period, Value	(80)									$ (80)
Dividends, Common Stock	(21)				(21)
Change in equity related to the spin-off	(3)				(3)
Comprehensive income (loss)	$ 206				118	0		88
Ending balance (in shares) at Dec. 31, 2022	42,600,000		44,000,000
Balance at end of period at Dec. 31, 2022	$ 678		$ 44	$ 25	$ 2,029	$ 0		$ (1,338)	$ (82)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Dividends, Per Share, Declared	$ 0.4750

BACKGROUND AND SUMMARY OF BUSIN

BACKGROUND AND SUMMARY OF BUSINESS	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND AND SUMMARY OF BUSINESS	BACKGROUND AND SUMMARY OF BUSINESS BACKGROUND Sylvamo Corporation (NYSE: SLVM) is the world’s paper company with mills in Europe, Latin America and North America. Our vision is to be the employer, supplier and investment of choice. We transform renewable resources into papers that people depend on for education, communication and entertainment. On December 3, 2020, International Paper Company (“International Paper“ or “Former Parent”) announced that its Board of Directors had approved a plan to spin-off its Printing Papers segment along with certain mixed-use coated paperboard and pulp businesses in Europe, Latin America, and North America (collectively referred to herein as the “Company,” “we,” “us,” or “our”), and separate into two distinct publicly-traded companies. On October 1, 2021, we settled the net parent investment and the spin-off was completed by a pro rata distribution to International Paper’s shareholders of approximately 80.1% of our common stock, with International Paper retaining a 19.9% ownership interest. As a result of the spin-off, Sylvamo Corporation became an independent public company. On September 12, 2022, International Paper sold its remaining shares of Sylvamo common stock. Therefore, International Paper is no longer a related party. Prior to the spin-off, we historically operated as part of International Paper and not as a standalone company. These consolidated and combined financial statements reflect the combined historical financial position, results of operations and cash flows of the Company as historically managed within International Paper for the periods prior to the completion of the spin-off and reflect our consolidated financial position, results of operations and cash flows for the period after the completion of the spin-off. The consolidated and combined financial statements have been prepared in United States (“U.S.”) dollars and in conformity with accounting principles generally accepted in the United States (‘‘U.S. GAAP’’). The consolidated and combined financial statements may not be indicative of the Company’s future performance and do not necessarily reflect what the results of operations, financial position and cash flows would have been had it operated as an independent company during all periods presented. For the periods prior to the spin-off, the consolidated and combined statements of operations also include expense allocations for certain functions provided by International Paper, including, but not limited to general corporate expenses related to finance, legal, information technology, human resources, communications, insurance and stock-based compensation. These expenses have been allocated to the Company on the basis of direct usage when identifiable, with the remainder principally allocated on the basis of percent of capital employed, headcount or other measures. During the years ended 2021 and 2020 the Company was allocated approximately $119 million and $169 million respectively, of such general corporate expenses related to continuing operations, which were included within “Cost of products sold” and “Selling and administrative expenses” in the consolidated and combined statements of operations. Management considers the basis on which the expenses have been allocated to reasonably reflect the utilization of services provided to or the benefit received by the Company during the periods presented. The allocations may not, however, reflect the expenses the Company would have incurred if the Company had been an independent company for all periods presented. Actual costs that may have been incurred if the Company had been an independent company during these periods would depend on several factors, including the organizational structure, whether functions were outsourced or performed by employees, and strategic decisions made in areas such as information technology and infrastructure. The Company is unable to determine what such costs would have been had the Company been independent during these periods prior to the spin-off. All intracompany transactions have been eliminated. Related party transactions between the Company and International Paper relating to general operating activities have been included in these consolidated and combined financial statements. These related party transactions historically settled in cash between the Company and International Paper have been reflected in the consolidated and combined balance sheets in “Accounts and notes receivable” or “Accounts payable and accrued liabilities” with the aggregate net effect of these related party transactions reflected in the consolidated and combined statements of cash flows as either “Accounts and notes receivable” or “Accounts payable and accrued liabilities” within operating activities. The aggregate net effect of transactions with International Paper not settled in cash, including corporate allocations, has been reflected in the consolidated and combined statements of cash flows as “Net transfers from Parent” within financing activities. In addition, certain of the Company’s Europe locations participated in International Paper’s centralized cash pooling arrangement. Amounts due from the cash pool were generally settled on a daily basis with the aggregate net activity between the Company and International Paper reflected in the consolidated and combined statements of cash flows as “Cash pool arrangements with Parent” within investing activities. Our participation in International Paper’s centralized cash pooling arrangements was terminated prior to September 30, 2021. International Paper utilized a centralized approach to cash management and financing its operations. This arrangement is not reflective of the manner in which the Company would have been able to finance its operations had it been independent from International Paper for the periods prior to the completion of the spin-off. The cash and temporary investments held by International Paper at the corporate level were not specifically identifiable to the Company and therefore have not been reflected in the Company’s consolidated and balance sheets. Cash and temporary investments in the consolidated and combined balance sheets for the periods prior to the completion of the spin-off represent only cash and temporary investments held locally by the Company. The consolidated and combined financial statements for the periods prior to the completion of the spin-off include certain assets and liabilities that were historically held at the International Paper corporate level but were specifically identifiable or otherwise attributable to the Company. International Paper’s third-party debt and the related interest expense have not been allocated to the Company for any of the periods presented as the Company was not the legal obligor of such debt. During the third quarter of 2021, we entered into a series of financing transactions under which we incurred $1.5 billion of debt in conjunction with our spin-off from International Paper, consisting of two term loan facilities, the 7% senior notes due 2029 (the “2029 Senior Notes) and borrowings from our cash flow-based revolving credit facility. The proceeds of the debt were used primarily to fund a $1.5 billion special payment to International Paper as part of the spin-off. The Company operates on a calendar year-end. Divestiture of Russian Operations During the second quarter of 2022, management committed to a plan to sell the Company’s Russian operations, which were previously part of the Europe business segment. As a result, all current and historical operating results of the Russian operations are presented as “Discontinued operations, net of taxes” in the consolidated and combined statement of operations and the notes to the consolidated and combined financial statements. All historical assets and liabilities of the Russian operations are classified as current and long-term assets and liabilities held for sale in the accompanying consolidated balance sheet. In October 2022, the Company completed the sale of its Russian operations to Pulp Invest Limited Liability Company, a company incorporated in the Russian Federation. See Note 8 Divestiture and Impairment of Business for further details.

BASIS OF CONSOLIDATION AND COMB

BASIS OF CONSOLIDATION AND COMBINATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
BASIS OF CONSOLIDATION AND COMBINATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF CONSOLIDATION AND COMBINATION AND SIGNIFICANT ACCOUNTING POLICIES BASIS OF CONSOLIDATION AND COMBINATION Our financial statements include amounts and disclosures related to the stand-alone financial statements and accounting records of the Company for the period after the spin-off (“consolidated”) in combination with amounts and disclosures that have been derived from the consolidated financial statements and accounting records of International Paper for the periods prior to the spin-off (“combined”). Any references to our financial statements, financial data and operating data refer to our accompanying consolidated and combined financial statements unless otherwise noted. USE OF ESTIMATES In preparing the consolidated and combined financial statements in accordance with U.S. GAAP, management makes estimates and assumptions that affect amounts reported in the consolidated and combined financial statements and accompanying notes. Actual results may differ from those estimates. REVENUE RECOGNITION The Company recognizes revenue on a point-in-time basis when the customer takes title to the goods and assumes the risks and rewards for the goods. For customized goods where the Company has a legally enforceable right to payment for the goods, the Company recognizes revenue over time, which generally is as the goods are produced. The Company’s revenue is primarily derived from fixed consideration; however, we do have contract terms that give rise to variable consideration, primarily volume rebates, early payment discounts and other customer refunds. The Company estimates its volume rebates at the individual customer level based upon the terms of the arrangement and expected volume purchases over the contract period, consistent with the most likely amount method outlined in ASC 606. The Company estimates early payment discounts and other customer refunds based on the historical experience across the Company’s portfolio of customers to record reductions in revenue which is consistent with the expected value method outlined in ASC 606. Management has concluded that these methods result in the best estimate of the consideration the Company will be entitled to from its customers. The Company has elected to present all sales taxes on a net basis, account for shipping and handling activities as fulfillment activities, and not record interest income or interest expense when the difference in timing of control or transfer and customer payment is one year or less. See Note 4 for further details. BUSINESS COMBINATIONS The Company allocates the total consideration of the assets acquired and liabilities assumed based on their estimated fair value as of the business combination date. In developing estimates of fair values for long-lived assets, including identifiable intangible assets, the Company utilizes a variety of inputs including forecasted cash flows, anticipated growth rates, discount rates, customer attrition, royalty rates, estimated replacement costs and depreciation and obsolescence factors. Determining the fair value for specifically identified intangible assets such as customer lists and developed technology involves judgment. We may refine our estimates and make adjustments to the assets acquired and liabilities assumed over a measurement period, not to exceed one year. Upon the conclusion of the measurement period or the final determination of the values of assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments are charged to the consolidated statements of operations. See Note 7 for further details. DISCONTINUED OPERATIONS A discontinued operation may include a component or a group of components of the Company's operations. A disposal of a component or a group of components is reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on the Company's operations and financial results when the following occurs: (1) a component (or group of components) meets the criteria to be classified as held for sale; (2) the component or group of components is disposed of by sale; or (3) the component or group of components is disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spin-off). For any component classified as held for sale or disposed of by sale or other than by sale, qualifying for presentation as a discontinued operation, the Company reports the results of operations of the discontinued operations (including any gain or loss recognized on the disposal or loss recognized on classification as held for sale of a discontinued operation), less applicable income taxes (benefit), as a separate component in the consolidated statements of operations for current and all prior periods presented. The Company also reports assets and liabilities associated with discontinued operations as separate line items on the consolidated balance sheets for prior periods. See Note 8 for further details. TEMPORARY INVESTMENTS Temporary investments with an original maturity of three months or less and money market funds with greater than three-month maturities but with the right to redeem without notice are treated as cash equivalents and are stated at cost, which approximates market value. See Note 9 for further details. COST OF GOODS SOLD Costs of goods sold represents costs directly related to the manufacture of our products. Primary costs include raw materials, packaging, direct labor, overhead, warehousing costs and shipping and handling costs, such as freight to customers’ destinations. INVENTORIES Inventories are valued at the lower of cost or market value and include costs directly associated with manufacturing products: materials, labor and manufacturing overhead. In the United States, costs of raw materials and finished paper and pulp products are generally determined using the last-in, first-out method. Other inventories are valued using the first-in, first-out or average cost methods. See Note 9 for further details. LEASED ASSETS Operating lease right of use (“ROU”) assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. The Company’s leases may include options to extend the lease. These options to extend are included in the lease term when it is reasonably certain that we will exercise that option. Some leases have variable payments, however, because they are not based on an index or rate, they are not included in the ROU assets and liabilities. Variable payments for real estate leases are primarily related to common area maintenance, insurance, taxes and utilities. Variable payments for equipment, vehicles and leases within supply agreements are primarily related to usage, repairs and maintenance. As the implicit rate is not readily determinable for most of the Company’s leases, the Company applies a portfolio approach using an estimated incremental borrowing rate to determine the initial present value of lease payments over the lease terms on a collateralized basis over a similar term, which is based on market and company specific information. We use the unsecured borrowing rate and risk adjust that rate to approximate a collateralized rate, and apply the rate based on the currency of the lease, which is updated on a quarterly basis for measurement of new lease liabilities. Leases having a lease term of twelve months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the term of the lease. In addition, the Company has applied the practical expedient to account for the lease and non-lease components as a single lease component for all of the Company’s leases. See Note 10 for further details. PLANTS, PROPERTIES AND EQUIPMENT Plants, properties and equipment are stated at cost, less accumulated depreciation. Expenditures for betterments are capitalized, whereas normal repairs and maintenance are expensed as incurred. The units-of-production method of depreciation is used for the mills, and the straight-line method is used for other plants and equipment. See Note 9 for further details. GOODWILL Annual evaluation for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim evaluation performed when management believes that it is more likely than not that events or circumstances have occurred that would result in the impairment of a reporting unit’s goodwill. The Company has the option to evaluate goodwill for impairment by first performing a qualitative assessment of events and circumstances to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then the quantitative goodwill impairment test is not required to be performed. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, or if the Company does not elect the option to perform an initial qualitative assessment, then the Company is required to perform the quantitative goodwill impairment test. In performing this evaluation, the Company estimates the fair value of its reporting unit using a weighted approach based on discounted future cash flows, market multiples and transaction multiples. The determination of fair value using the discounted cash flow approach requires management to make significant estimates and assumptions related to forecasts of future revenues, operating profit margins and discount rates. The determination of fair value using market multiples and transaction multiples requires management to make significant assumptions related to revenue multiples and adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) multiples. For reporting units whose carrying amount is in excess of their estimated fair value, the reporting unit will record an impairment charge by the amount that the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to the reporting unit. See Note 1 1 for further discussion. IMPAIRMENT OF LONG-LIVED ASSETS Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that the carrying value of the assets may not be recoverable. A recoverability test is performed based on undiscounted cash flows, requiring judgments as to the weighting of operational alternatives being considered by management and estimates of the amount and timing of expected future cash flows from the use of the long-lived assets generated by their use. Impaired assets are written-down to their estimated fair value. See Note 1 1 for further discussion. Long-lived assets classified as held for sale are measured at the lower of carrying value or fair value less cost to sell. See Note 8 for further discussion. EMPLOYEE RETIREMENT BENEFITS Prior to September 1, 2021, certain of the Company’s employees participated in defined benefit and other postretirement plans sponsored by International Paper in the U.S., Belgium, France, and Poland. These plans were accounted for by International Paper in accordance with accounting guidance for defined benefit pension and other postretirement benefit plans. The Company accounted for the participation of its employees in these plans as a participant in a multi-employer plan sponsored by International Paper. On September 1, 2021, the Company established legally separate plans from International Paper, in which International Paper transferred both pension liabilities and qualified pension assets to the Company for all of the Company’s active participants. The Company also serves as the sponsor of certain direct defined benefit pension and postretirement plans in Brazil and the United Kingdom, which the Company accounts for using the single-employer method, with the net funded status of these plans recorded as an asset or liability in the consolidated and balance sheets. See Note 1 5 for additional disclosures regarding retirement benefits. INCOME TAXES We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Deferred tax assets are recognized to the extent that we believe that these assets are more likely than not to be realized. We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company was included in the foreign and domestic tax returns of International Paper until its separation from International Paper on October 1, 2021. For the periods prior to the spin-off, we calculated the provision for income taxes by using a separate-return method. Any difference between the tax provision (or benefit) allocated to us under the separate-return method and payments to be made to (or received from) International Paper for tax expense is treated as either dividends or capital contributions. While we believe that these judgments and estimates are appropriate and reasonable under the circumstances, actual resolution of these matters may differ from recorded estimates and amounts. See Note 1 2 for further discussion. TRANSLATION OF FINANCIAL STATEMENTS

RECENT ACCOUNTING DEVELOPMENTS

RECENT ACCOUNTING DEVELOPMENTS	12 Months Ended
	Dec. 31, 2022
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING DEVELOPMENTS	RECENT ACCOUNTING DEVELOPMENTS RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Reference Rate Reform

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION EXTERNAL NET SALES BY PRODUCT External net sales by major products were as follows: In millions 2022 2021 2020 Europe Uncoated Papers $ 396 $ 271 $ 211 Market Pulp 105 77 60 Europe 501 348 271 Latin America Uncoated Papers 954 732 579 Market Pulp — 37 53 Latin America 954 769 632 North America Uncoated Papers 2,091 1,643 1,428 Market Pulp 82 68 54 North America 2,173 1,711 1,482 Total $ 3,628 $ 2,828 $ 2,385 REVENUE CONTRACT BALANCES A contract asset is created when the Company recognizes revenue on its customized products for which we have an enforceable right to payment. A contract liability is created when customers prepay for goods prior to the Company transferring control over those goods to the customer. The contract liability is reduced once control of the goods is transferred to the customer. The majority of our customer prepayments are received during the fourth quarter each year for goods that will be transferred to customers over the following twelve months. There were no contract liabilities included in current liabilities in the accompanying consolidated balance sheets as of December 31, 2022. Contract liabilities of $1 million are included in current liabilities in the accompanying consolidated balance sheets as of December 31, 2021. The difference between the opening and closing balances of the Company’s contract assets and contract liabilities primarily results from the difference between the price and quantity at comparable points in time for goods which we have an unconditional right to payment or receive pre-payment from the customer, respectively. PERFORMANCE OBLIGATIONS AND SIGNIFICANT JUDGEMENTS The Company’s principal business is to manufacture and sell uncoated freesheet papers, along with pulp. As a general rule, none of our businesses provide equipment installation or other ancillary services outside of producing and shipping paper and pulp goods to customers. The nature of the Company’s contracts can vary based on the business, customer type, and region; however, in all instances it is the Company’s customary business practice to receive a valid purchase order from the customer, in which each party’s rights and related payment terms are clearly identifiable.

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
OTHER COMPREHENSIVE INCOME	OTHER COMPREHENSIVE INCOME The following table presents the changes in AOCI, net of tax, reported in the consolidated and combined financial statements: In millions 2022 2021 2020 Defined Benefit Pension and Postretirement Adjustments Balance at beginning of period $ (80) $ (48) $ (44) Other comprehensive income (loss) before reclassifications 4 (3) (5) Pension plan transfer from Parent — (30) — Amounts reclassified from accumulated other comprehensive income — 1 1 Balance at end of period (76) (80) (48) Change in Cumulative Foreign Currency Translation Adjustments Balance at beginning of period (1,719) (1,433) (1,187) Transfer from Parent — (113) — Disposal of business 375 — — Other comprehensive income (loss) before reclassifications 56 (173) (246) Balance at end of period (1,288) (1,719) (1,433) Net Gains and Losses on Cash Flow Hedging Derivatives Balance at beginning of period (2) 1 2 Other comprehensive income (loss) before reclassifications 41 (2) (25) Amounts reclassified from accumulated other comprehensive income (13) (1) 24 Balance at end of period 26 (2) 1 Total Accumulated Other Comprehensive Income (Loss) at End of Period $ (1,338) $ (1,801) $ (1,480)

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share from continuing operations is computed by dividing net income from continuing operations by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share from continuing operations is computed by dividing net income from continuing operations by the weighted-average number of shares of common stock outstanding during the period, increased to include the number of shares of common stock that would have been outstanding had potentially dilutive shares of common stock been issued. The dilutive effect of restricted stock units is reflected in diluted earnings per share by applying the treasury stock method. Basic and dilutive earnings per share from discontinued operations are computed under the same approach utilizing the same weighted-average number of shares of common stock outstanding during the period and dilutive shares. There are no adjustments required to be made to net income from continuing operations for purposes of computing basic and diluted earnings per share from continuing operations. These financial statements are prepared on the basis that, at the date of distribution of Sylvamo common stock by International Paper to its shareholders on October 1, 2021, Sylvamo had 43,949,277 total shares of common stock outstanding. The calculation of pro forma earnings per share from continuing operations for certain historical periods presented utilizes the number of shares of common stock outstanding at the date of distribution as the basis for the calculation of the weighted average number of shares of common stock outstanding for periods prior to the spinoff because, at that time, Sylvamo did not operate as a separate, stand-alone entity, and no shares or equity-based awards were outstanding prior to the date of distribution. Basic and diluted earnings per share from continuing operations are calculated as follows: In millions, except per share amounts 2022 2021 2020 Net income from continuing operations $ 336 $ 227 $ 87 Weighted average common shares outstanding 43.9 44.0 44.0 Effect of dilutive securities 0.5 — — Weighted average common shares outstanding - assuming dilution 44.4 44.0 44.0 Earnings per share from continuing operations - basic $ 7.65 $ 5.16 $ 1.97 Earnings per share from continuing operations - diluted $ 7.57 $ 5.16 $ 1.97

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combination Disclosure	ACQUISITIONS In January 2023, the Company completed the previously announced acquisition of Stora Enso’s uncoated freesheet paper mill in Nymölla, Sweden, for €150 million (approximately $160 million), subject to customary purchase price adjustments. The integrated mill has the capacity to produce approximately 500,000 short tons of uncoated freesheet on two paper machines. The Company entered into a foreign exchange forward contract to hedge the Euro-denominated purchase price and recognized a $10 million gain within “Cost of products sold” during the fourth quarter of 2022 as that is where we record “Other income.” Cash flows from this forward contract are reflected in the consolidated and combined statements of cash flows within “Other” investment activities. Sylvamo will account for the acquisition under ASC 805, “Business Combinations” and the Nymölla mill’s results of operations will be included in Sylvamo’s consolidated financial statements from the date of acquisition. Due to the timing of the closing of the acquisition, the allocation is preliminary and could be significantly revised as a result of adjustments made to the working capital adjustment element of the purchase price, additional information obtained regarding assets acquired and liabilities assumed, and revisions of estimates of fair values of both tangible and intangible assets including goodwill. These revisions may include, but are not limited to, the completion of independent appraisals and valuations related to inventory, property, plant and equipment and intangible assets. The Company will finalize its valuation and the allocation of the purchase price, along with required retrospective adjustments, if any, within a year. The following table summarizes the preliminary allocation of the purchase price to the fair value assigned to assets and liabilities acquired as of January 2, 2023: In millions Assets $ 190 Goodwill 46 Less: Liabilities assumed (76) Net assets acquired $ 160

DIVESTITURE AND IMPAIRMENT OF B

DIVESTITURE AND IMPAIRMENT OF BUSINESS	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure	DIVESTITURE AND IMPAIRMENT OF BUSINESS RUSSIAN OPERATIONS During the second quarter of 2022, management committed to a plan to sell the Company’s Russian operations. As a result, all historical operating results of the Russian operations are presented as “Discontinued operations, net of taxes” in our consolidated and combined statement of operations. All historical assets and liabilities of the Russian operations are classified as current and long-term assets and liabilities held for sale in the accompanying consolidated balance sheets. The Russian operations were previously part of the Europe business segment. In October 2022, the Company completed the sale of its Russian operations to Pulp Invest Limited Liability Company, a company incorporated in the Russian Federation, for $420 million. After transaction and foreign currency exchange costs of $35 million, Sylvamo received $385 million in cash proceeds. The Russian operations cash balance of $61 million was divested as part of this transaction. The following summarizes the major classes of line items comprising “Income Before Income Taxes” reconciled to “Discontinued operations, net of tax,” related to the Russian operations for all periods presented in the consolidated and combined statement of operations. In millions for the years ended December 31 2022 2021 2020 NET SALES $ 518 $ 674 $ 624 COSTS AND EXPENSES Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below) 425 518 493 Selling and administrative expenses 10 6 7 Depreciation, amortization and cost of timber harvested 4 17 19 Taxes other than payroll and income taxes 1 2 2 Impairment of business 296 — — Interest expense (income), net (3) (1) — INCOME BEFORE INCOME TAXES (215) 132 103 Income tax provision 3 28 20 DISCONTINUED OPERATIONS, NET OF TAXES $ (218) $ 104 $ 83 The following summarizes the major classes of assets and liabilities of the Russian operations reconciled to current assets and long-term assets held for sale and current and long-term liabilities held for sale in the accompanying consolidated balance sheets: In millions as of December 31 2021 Cash and temporary investments $ 21 Accounts and notes receivable 88 Contract assets 3 Inventories 63 Other current assets 4 Current Assets Held for Sale $ 179 Plants, Properties and Equipment $ 121 Goodwill 10 Right of Use Assets 1 Deferred Charges and Other Assets 9 Long-Term Assets Held for Sale $ 141 Notes payable and current maturities of long-term debt $ 1 Accounts payable 58 Accrued payroll and benefits 3 Other current liabilities 29 Current Liabilities Held for Sale $ 91 Long-Term Debt $ 1 Other Liabilities 12 Long-Term Liabilities Held for Sale $ 13 The following summarizes the total cash provided by operating activities from discontinued operations, net and total cash provided by (used for) investing activities from discontinued operations, net and included in the consolidated statement of cash flows: In millions for the years ended December 31 2022 2021 2020 Cash Provided by Operating Activities $ 20 $ 126 $ 114 Cash Provided by (Used for) Investment Activities (a) $ (5) $ 14 $ (11) (a) Includes cash invested in capital projects of $5 million, $7 million, and $9 million for the years ended December 31, 2022, 2021, and 2020, respectively. Prior to the disposal of the business and during the first quarter of 2022, as a result of the significant changes in the business climate impacting our Russian operations, a determination was made that the current carrying value of our Russian operations exceeded the estimated fair value. The fair value of the Russian operations was estimated based on a probability-weighted average approach of the potential cash flows from various paths the Company was evaluating to exit the business. As a result, a pre-tax charge of $68 million ($57 million, net of taxes) was recorded for the impairment and allocated to the Russian fixed assets. Also during 2022, pre-tax charges of $228 million ($228 million after taxes) were recorded to reduce the carrying value of the Russian operations to the expected sale price less costs to sell. Included within these charges was the reclassification of $375 million of historical foreign currency losses related to our Russian operations from accumulated other comprehensive income (loss) into net income. These charges are included in “Impairment of business” within the summarized income statement for our Russian operations included in this footnote and is included in “Discontinued operations, net of taxes” in the consolidated and combined statement of operations.

SUPPLEMENTARY FINANCIAL STATEME

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION TEMPORARY INVESTMENTS Temporary investments totaled $80 million and $64 million as of December 31, 2022 and 2021, respectively. ACCOUNTS AND NOTES RECEIVABLE Accounts and notes receivable, net, by classification were: In millions as of December 31 2022 2021 Accounts and notes receivable: Trade $ 430 $ 391 Notes and other 20 11 Total $ 450 $ 402 Accounts and notes receivable are recognized net of the allowance for expected credit losses. The allowance for expected credit losses reflects the best estimate of losses inherent in the Company’s receivables portfolio determined on the basis of historical experience, specific allowances for known troubled accounts, expectations for future economic conditions through the use of macroeconomic data and other available evidence. The allowance for expected credit losses was $20 million and $19 million at December 31, 2022 and December 31, 2021, respectively. Based on the Company’s accounting estimates and the facts and circumstances available as of the reporting date, we believe our allowance for expected credit losses is adequate. INVENTORIES In millions as of December 31 2022 2021 Raw materials $ 40 $ 37 Finished paper and pulp products 226 164 Operating supplies 78 69 Other 20 9 Total $ 364 $ 279 The last-in, first-out inventory method is used to value most of the Company’s U.S. inventories. Approximately 71% of total raw materials and finished paper and pulp product inventories were valued using this method. The last-in, first-out inventory reserve was $54 million and $43 million as of December 31, 2022 and 2021, respectively. PLANTS, PROPERTIES AND EQUIPMENT, NET In millions as of December 31 2022 2021 Land $ 8 $ 9 Buildings 361 351 Machinery 3,903 3,827 Construction in progress 103 28 Capital leases 37 37 Gross cost 4,412 4,252 Less: Accumulated depreciation 3,595 3,488 Plants, Properties and Equipment, net $ 817 $ 764 Non-cash additions to plants, property and equipment included within accounts payable were $36 million, $6 million and $8 million as of December 31, 2022, 2021 and 2020, respectively. Annual straight-line depreciable lives generally are, for buildings – 20 to 40 years, and for machinery and equipment – 3 to 20 years. Depreciation expense was $104 million, $107 million and $121 million for the years ended December 31, 2022, 2021 and 2020, respectively. Cost of products sold excludes depreciation and amortization expense. INTEREST Interest payments of $63 million, $10 million and $1 million were made during the years ended December 31, 2022, 2021 and 2020, respectively. Amounts related to interest were as follows: In millions 2022 2021 2020 Interest expense (a) $ 80 $ 32 $ 4 Interest income (8) (32) (8) Capitalized interest costs (3) (1) — (a) Interest expense for 2022 includes $5 million of debt extinguishment cost related to the repayment of the total outstanding balance of Term Loan B in the fourth quarter. ASSET RETIREMENT OBLIGATIONS At both December 31, 2022 and 2021, we had recorded liabilities of $26 million related to asset retirement obligations. These amounts are included in “Other liabilities” in the accompanying consolidated balance sheets.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	LEASESThe Company leases various real estate, including warehouses, office space and land. The Company also leases material handling equipment, vehicles and certain other equipment. The Company’s leases have a remaining lease term of up to 15 years. COMPONENTS OF LEASE EXPENSE In millions 2022 2021 2020 Operating lease costs $ 18 $ 9 $ 8 Variable lease costs 28 20 16 Short-term lease costs 7 7 1 Finance lease cost Amortization of right-of-use assets 4 3 2 Interest on lease liabilities 1 1 1 Total lease cost, net $ 58 $ 40 $ 28 SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES In millions Classification 2022 2021 Assets Operating lease assets Right of use assets $ 35 $ 40 Finance lease assets Plants, properties, and equipment, net (a) 24 27 Total leased assets $ 59 $ 67 Liabilities Current Operating Other current liabilities $ 13 $ 15 Finance Notes payable and current maturities of long-term debt 3 3 Noncurrent Operating Other Liabilities 28 25 Finance Long-term debt 14 17 Total lease liabilities $ 58 $ 60 (a) Finance leases are recorded net of accumulated amortization of $13 million and $11 million as of December 31, 2022 and 2021, respectively. LEASE TERM AND DISCOUNT RATE 2022 2021 Weighted average remaining lease term (years) Operating leases 5.8 years 3.5 years Finance leases 7.5 years 7.4 years Weighted average discount rate Operating leases 2.84 % 1.30 % Finance leases 3.90 % 3.31 % SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES In millions 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows related to operating leases $ 21 $ 11 Operating cash flows related to financing leases 1 1 Financing cash flows related to finance leases 5 3 Right of use assets obtained in exchange for lease liabilities Operating leases 14 32 Finance leases — 1 In millions Operating Leases Financing Leases Total 2023 $ 14 $ 3 $ 17 2024 10 2 12 2025 5 2 7 2026 3 2 5 2027 2 2 4 Thereafter 11 11 22 Total lease payments 45 22 67 Less: imputed interest 4 5 9 Present value of lease liabilities $ 41 $ 17 $ 58
LEASES	LEASESThe Company leases various real estate, including warehouses, office space and land. The Company also leases material handling equipment, vehicles and certain other equipment. The Company’s leases have a remaining lease term of up to 15 years. COMPONENTS OF LEASE EXPENSE In millions 2022 2021 2020 Operating lease costs $ 18 $ 9 $ 8 Variable lease costs 28 20 16 Short-term lease costs 7 7 1 Finance lease cost Amortization of right-of-use assets 4 3 2 Interest on lease liabilities 1 1 1 Total lease cost, net $ 58 $ 40 $ 28 SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES In millions Classification 2022 2021 Assets Operating lease assets Right of use assets $ 35 $ 40 Finance lease assets Plants, properties, and equipment, net (a) 24 27 Total leased assets $ 59 $ 67 Liabilities Current Operating Other current liabilities $ 13 $ 15 Finance Notes payable and current maturities of long-term debt 3 3 Noncurrent Operating Other Liabilities 28 25 Finance Long-term debt 14 17 Total lease liabilities $ 58 $ 60 (a) Finance leases are recorded net of accumulated amortization of $13 million and $11 million as of December 31, 2022 and 2021, respectively. LEASE TERM AND DISCOUNT RATE 2022 2021 Weighted average remaining lease term (years) Operating leases 5.8 years 3.5 years Finance leases 7.5 years 7.4 years Weighted average discount rate Operating leases 2.84 % 1.30 % Finance leases 3.90 % 3.31 % SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES In millions 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows related to operating leases $ 21 $ 11 Operating cash flows related to financing leases 1 1 Financing cash flows related to finance leases 5 3 Right of use assets obtained in exchange for lease liabilities Operating leases 14 32 Finance leases — 1 In millions Operating Leases Financing Leases Total 2023 $ 14 $ 3 $ 17 2024 10 2 12 2025 5 2 7 2026 3 2 5 2027 2 2 4 Thereafter 11 11 22 Total lease payments 45 22 67 Less: imputed interest 4 5 9 Present value of lease liabilities $ 41 $ 17 $ 58

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	GOODWILL AND OTHER INTANGIBLES GOODWILL There were no impairment charges related to goodwill for the years ended December 31, 2022, 2021 and 2020. The following table presents changes in the goodwill balance as allocated to each business segment: In millions Europe Latin North America Total Balance as of December 31, 2020 Goodwill $ 13 $ 121 $ — $ 134 Accumulated impairment losses (1) — — (1) 12 121 — 133 Currency translation and other (a) (2) (9) — (11) Goodwill additions/reductions — — — — Accumulated impairment loss additions/reductions — — — — Balance as of December 31, 2021 Goodwill 11 112 — 123 Accumulated impairment losses (1) — — (1) 10 112 — 122 Currency translation and other (a) — 6 — 6 Goodwill additions/reductions — — — — Accumulated impairment loss additions/reductions — — — — Balance as of December 31, 2022 Goodwill 11 118 — 129 Accumulated impairment losses (1) — — (1) Total $ 10 $ 118 $ — $ 128 (a) Represents the effects of foreign currency translations and reclassifications. During the first quarter of 2022, the Company concluded that significant changes in the business climate in Russia represented an indicator of impairment, which resulted in the performance of an interim goodwill impairment test. The Company performed interim quantitative testing of goodwill attributed to the Europe reporting unit and concluded that the fair value of the reporting unit had not been reduced below carrying value and no goodwill impairment charge was recorded. The Company performed its annual testing of its reporting units for possible goodwill impairments by applying the qualitative assessment to its Europe and Latin America reporting units as of October 1, 2022. For the current year evaluation, the Company assessed various assumptions, events and circumstances that would have affected the estimated fair value of the reporting units under the qualitative assessment for the reporting units listed above. The results of the qualitative assessments indicated that it is not more likely than not that the fair values of its Europe and Latin America reporting units were less than their carrying values. In addition, the Company considered whether there were any events or circumstances outside of the annual evaluation, other than those discussed above, that would reduce the fair value of its reporting units below their carrying amounts and necessitate a goodwill impairment evaluation. In consideration of all relevant factors, there were no indicators that would require goodwill impairment evaluation subsequent to October 1, 2022. OTHER INTANGIBLES Identifiable intangible assets comprised the following: 2022 2021 In millions as of December 31, Gross Carrying Amount Accumulated Amortization Net Intangible Assets Gross Carrying Amount Accumulated Amortization Net Intangible Assets Customer relationships and lists $ 56 $ (50) $ 6 $ 56 $ (48) $ 8 Software 3 (3) — 3 (2) 1 Other 4 (3) 1 4 (4) — Total $ 63 $ (56) $ 7 $ 63 $ (54) $ 9 The Company recognized the following amounts as amortization expense related to intangible assets: In millions 2022 2021 2020 Amortization expense related to intangible assets $ 2 $ 2 $ 2 Based on current intangibles subject to amortization, estimated amortization expense for each of the succeeding years is as follows: 2023 – $2 million, 2024 – $2 million, 2025 – $2 million, 2026 – $1 million, 2027 and cumulatively thereafter – $0 million. These amounts exclude amortization related to any Nymölla intangibles assets acquired and recognized subsequent to December 31, 2022.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of the Company’s income from continuing operations before income taxes by taxing jurisdiction were as follows: In millions 2022 2021 2020 U.S. $ 176 $ 80 $ 10 Non-U.S. 291 248 85 Income from continuing operations before income taxes $ 467 $ 328 $ 95 Income tax provision by taxing jurisdictions was as follows: In millions 2022 2021 2020 Current tax provision U.S. federal $ 56 $ 26 $ (4) U.S. state and local 15 5 2 Non-U.S. 67 76 59 $ 138 $ 107 $ 57 Deferred tax provision U.S. federal $ (11) $ (3) $ (4) U.S. state and local (1) (1) (1) Non-U.S. 5 (2) (44) $ (7) $ (6) $ (49) Income tax provision $ 131 $ 101 $ 8 A reconciliation of income taxes using the statutory U.S. income tax rate of 21% compared to the reported income tax provision is summarized as follows: In millions 2022 2021 2020 Income from continuing operations before income taxes $ 467 $ 328 $ 95 Statutory U.S. income tax rate 21 % 21 % 21 % Income taxes using the statutory U.S. income tax rate 98 69 20 State and local income taxes 11 5 1 Impact of rate differential on non-U.S. permanent differences and earnings 11 27 (2) Tax audits — — (10) U.S. tax on non-U.S. earnings (GILTI and Subpart F) 11 — 1 Other, net — — (2) Income tax provision $ 131 $ 101 $ 8 Effective income tax rate 28 % 31 % 8 % The components of deferred income tax assets and liabilities are as follows: In millions 2022 2021 Deferred income tax assets: Net operating and capital loss carryforwards $ 21 $ 22 Accrued payroll and benefits 31 25 Lease liabilities 7 6 Tax credits 24 4 Other 30 38 Gross deferred income tax assets 113 95 Less: valuation allowance (32) (9) Net deferred income tax asset $ 81 $ 86 Deferred income tax liabilities: Intangibles $ (44) $ (37) Right of use assets (6) (6) Deferred foreign income (50) (40) Plants, properties and equipment (84) (92) Forestlands (48) (45) Gross deferred income tax liabilities (232) (220) Net deferred income tax liability $ (151) $ (134) The Company recognizes deferred income tax assets for deductible temporary differences and carryforwards. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized based on estimates of future taxable income. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. Based on this evaluation, as of December 31, 2022, a valuation allowance of $32 million has been recorded to reduce the deferred tax asset to the amount that is more likely than not to be realized. The valuation allowance in 2022 is primarily attributable to certain state credits and Finnish deferred assets that cannot be realized, while the valuation allowance in 2021 was primarily attributable to French deferred assets. Although prior to the spin-off we were historically included in the consolidated income tax returns of International Paper, our income taxes for periods prior to the spin-off were computed and are reported herein under the “separate return method.” During the year ended December 31, 2022, we recorded a $3 million adjustment to the deferred tax assets and liabilities allocated during the spin-off to reflect the actual current and deferred tax positions resulting from the spin-off. The adjustment is reflected as a “change in equity related to the spin-off” in the consolidated and combined statements of changes in equity. The Company made income tax payments, net of refunds, of $133 million during 2022. The reconciliation of the beginning and ending amount of unrecognized tax benefits were as follows: In millions 2022 2021 2020 Balance at January 1 $ (3) $ (18) $ (28) (Additions) reductions for tax positions related to current year (1) (2) (1) Reductions for tax positions related to prior years — — 11 Transfer of tax positions related to prior years to Parent — 17 — Balance at December 31 $ (4) $ (3) $ (18) Included in the balance of unrecognized tax benefits as of December 31, 2022, December 31, 2021 and December 31, 2020 are $4 million, $3 million and $18 million, respectively, of tax benefits that if recognized would affect the effective tax rate. The Company accrues interest on unrecognized tax benefits as a component of interest expense. Penalties, if incurred, are recognized as a component of income tax expense. During 2022, we accrued an immaterial amount of interest, and as of December 31, 2022, recognized a liability for interest of $1 million. During 2021, we accrued $1 million of interest, and as of December 31, 2021, recognized a liability for interest of $2 million. During 2020, we did not accrue any interest, and as of December 31, 2020, recognized a liability for interest of $2 million. The Brazilian Federal Revenue Service has challenged the deductibility of goodwill amortization generated in a 2007 acquisition by International Paper do Brasil Ltda., a wholly-owned subsidiary of the Company now named Sylvamo do Brasil Ltda. (“Sylvamo Brasil”). Sylvamo Brasil received assessments for the tax years 2007-2015 totaling approximately $111 million in tax and $361 million in interest, penalties and fees as of December 31, 2022 (adjusted for variation in currency exchange rates). International Paper challenged and is managing the litigation of this matter pursuant to the Tax Matters Agreement between us and International Paper. After a previous favorable ruling challenging the basis for these assessments, there were subsequent unfavorable decisions from the Brazilian Administrative Council of Tax Appeals. On behalf of Sylvamo Brasil, International Paper has appealed and at present, has advised us that it intends to further appeal these and any future unfavorable administrative judgments to the Brazilian federal courts; however, this tax litigation matter may take many years to resolve. The Company believes that the transaction underlying these assessments was appropriately evaluated, and that the Company’s tax position would be sustained, based on Brazilian tax law. Pursuant to the terms of the Tax Matters Agreement, International Paper will pay 60%, and Sylvamo will pay 40% on up to $300 million of any assessment related to this matter, and International Paper will pay all amounts of the assessment over $300 million. Also in connection with this agreement, all decisions concerning the conduct of the litigation related to this matter, including strategy, settlement, pursuit and abandonment, will continue to be made by International Paper, which is vigorously defending Sylvamo Brasil’s historic tax position against the current assessments and any similar assessments that may be issued for tax years subsequent to 2015. The following details the scheduled expiration dates of the Company’s December 31, 2022 net operating loss and income tax credit carryforwards: In millions 2023 Through 2032 Indefinite Total Non-U.S. NOLs $ 8 $ 13 $ 21 U.S. federal, non-U.S. and state tax credit — 24 24 Total 8 37 45 Less: valuation allowance (8) (24) (32) Total, net $ — $ 13 $ 13

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES ENVIRONMENTAL AND LEGAL PROCEEDINGS The Company is subject to environmental and legal proceedings in the countries in which we operate. Accruals for contingent liabilities, such as environmental remediation costs, are recorded in the consolidated and combined financial statements when it is probable that a liability has been incurred or an asset impaired and the amount of the loss can be reasonably estimated. The Company has estimated some probable liability associated with environmental remediation matters that is immaterial in the aggregate as of December 31, 2022. At the Company’s Mogi Guaçu mill, there are legacy basin areas that were formerly lagoons used for treatment of mill wastewater from pulp and paper manufacturing. In coordination with and in response to a request by the Environmental Company of the State of São Paulo (“CETESB”), which is the state environmental regulatory authority, there has been continuous regulatory monitoring and sampling of the former basins, which began prior to their closure in 2006, both to assess for contamination and evaluate whether additional remediation is needed beyond the basins’ ongoing natural vegetation growth. This monitoring and sampling detected metal contamination, with the main constituent of potential environmental impact being mercury. The Company has presented CETESB with proposals for studies and other actions to further assess the scope and type of contamination and the possible need for an additional remediation approach. Additionally, in October 2022, CETESB requested that the Company expand its efforts to include providing CETESB with a proposed pilot intervention (remediation) plan for a portion of the former basins. The purpose of the pilot intervention plan is to facilitate determination of the appropriate actions to take for the basins generally, guided by the results of the pilot intervention plan in the subset of basins. The Company has submitted its pilot invention plan to CETESB and is waiting for CETESB to determine if it approves the plan set forth in the response. As of December 31, 2022, the Company has recorded an immaterial liability for the ongoing and additional environmental studies and sampling of the basins. While this matter could in the future have a material impact on our results of operations or cash flows, the Company is unable to estimate its potential additional liability, including the costs of executing certain elements of the proposed pilot intervention plan, because the further studies to be conducted and the remediation that may be required, both for the pilot intervention plan and for the ultimate intervention, will depend on CETESB’s approval of the proposed pilot intervention plan, the results of the pilot intervention plan, the Company’s environmental studies assessing the existence of ecological risk due to the contamination and what intervention may be required beyond vegetation of the basins, the extent to which there is eventual risk of harm from the contamination, and CETESB’s approval of any ultimate intervention plan for the basins. TAXES OTHER THAN PAYROLL TAXES See Note 1 2 Income Taxes for a discussion of a goodwill amortization tax matter in Brazil. We have other open tax matters awaiting resolution in Brazil, which are at various stages of review in various administrative and judicial proceedings. We routinely assess these tax matters for materiality and probability of loss or gain, and appropriate amounts have been recorded in our financial statements for any open items where the risk of loss is deemed probable. We currently do not consider any of these other tax matters to be material individually. However, it is reasonably possible that settlement of any of these matters concurrently could result in a material loss or that over time a matter could become material, for example, if interest were accruing on the amount at issue for a significant period of time. Also, future exchange rate fluctuations could be unfavorable to the U.S. dollar and significant enough to cause an open matter to become material. The expected timing for resolution of these open matters ranges from one year to 10 years. GENERAL The Company is involved in various other inquiries, administrative proceedings and litigation relating to environmental and safety matters, taxes (including VAT), personal injury, product liability, labor and employment, contracts, sales of property and other matters, some of which allege substantial monetary damages. Assessments of lawsuits and claims can involve a series of complex judgments about future events, can rely heavily on estimates and assu mptions, and are otherwise subject to significant uncertainties. As a result, there can be no certainty that the Company will not ultimately incur charges in excess of presently recorded liabilities. The Company believes that loss contingencies arising from pending matters, including the matters described herein, will not have a material effect on the consolidated financial position or liquidity of the Company. However, in light of the inherent uncertainties involved in pending or threatened legal matters, some of which are beyond the Company's control, and the large or indeterminate damages sought in some of these matters, a future adverse ruling, settlement, unfavorable development, or increase in accruals with respect to these matters, could result in future charges that could be material to the Company's results of operations or cash flows in any particular reporting period.

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT In anticipation of our separation from International Paper, on August 16, 2021, we entered into a series of financing transactions in which we incurred long-term debt consisting of two term loans (“Term Loan F” and “Term Loan B”) and the 2029 Senior Notes. The outstanding balances of these debt transactions are reflected as long-term debt in the consolidated balance sheet. In addition to the debt noted above, the Company has the ability to access a cash flow-based revolving credit facility with a total borrowing capacity of $450 million (“Revolving Credit Facility”), which matures in 2026. As of December 31, 2022, the Company had no outstanding borrowings and $24 million of letters of credit related to the Revolving Credit Facility, resulting in an available borrowing capacity of $426 million. As of December 31, 2021, the Company had $20 million of outstanding borrowings and $10 million of letters of credit related to the Revolving Credit Facility, resulting in an available borrowing capacity of $420 million. The outstanding balance on the Revolving Credit Facility is recorded within “Notes payable and current maturities of long-term debt” in the consolidated balance sheet. On September 30, 2022, Sylvamo North America LLC, a wholly owned subsidiary of the Company, established a three-year, $120 million accounts receivable finance facility (the “Securitization Program”). The Company sells substantially all of its North American accounts receivable balances to Sylvamo Receivables, LLC, a special purpose entity, which pledges the receivables as collateral for the Securitization Program. The borrowing availability under this facility is limited by the balance of eligible receivables within the program. As of December 31, 2022, the Company had $75 million outstanding borrowings under the receivables securitization program at an average rate of 5.19%. Long-term debt is summarized in the following table: In millions as of December 31 2022 2021 Term Loan F - due 2027 (a) $ 496 $ 512 Term Loan B - due 2028 (b) — 401 7% Senior Notes - due 2029 (c) 444 443 Securitization Program (d) 75 — Other 17 20 Less: current portion (29) (19) Total $ 1,003 $ 1,357 (a) As of December 31, 2022 and December 31, 2021, presented net of $4 million and $5 million in unamortized debt issuance costs, respectively. (b) As of December 31, 2021, presented net of $5 million in unamortized debt issuance costs and $4 million in unamortized original issue discount paid. (c) As of December 31, 2022 and December 31, 2021, presented net of $6 million and $7 million in unamortized debt issuance costs, respectively. (d) Subsequent to year-end, the Company repaid $30 million of the outstanding balance on the Securitization Program. The Company repaid the remaining outstanding balance of Term Loan B in the fourth quarter of 2022, resulting in a debt extinguishment cost of $5 million, which included the write-off of debt issuance expense and original debt issuance discount paid. This cost was recorded within “Interest expense (income), net.” The 2029 Senior Notes are unsecured bonds with a 7.00% fixed interest rate, payable semi-annually. The obligations under the Term Loan F and Revolving Credit Facility are secured by substantially all the tangible and intangible assets of Sylvamo and its subsidiaries, subject to certain exceptions, and along with the 2029 Senior Notes facility are guaranteed by Sylvamo and certain subsidiaries. The interest rates applicable to the Term Loan F and Revolving Credit Facility are based on a fluctuating rate of interest measured by reference to LIBOR plus a fixed percentage of 1.75% and 1.50%, respectively, payable monthly, with a LIBOR floor of 0.00%. We are receiving interest patronage credits under the Term Loan F. Patronage credits are distributions of profits from banks in the Farm Credit system, which as cooperatives are required to distribute a portion of profits to their members. Patronage distributions, which are made primarily in cash but also in equity in the lenders, are received in the first quarter of the year following that in which they were earned. Expected patronage credits are accrued in accounts and notes receivable as a reduction to interest expense in the year earned. After giving effect to expected patronage distributions of 90 basis points, of which 70 basis points is expected as a cash rebate, the effective net interest rate on the Term Loan F was approximately 5.23% and 1.05% as of December 31, 2022 and December 31, 2021, respectively. In the fourth quarter of 2021, in connection with the Term Loan F, the Company entered into interest rate swaps with various counterparties with a notional amount of $400 million and maturities ranging from 2024 to 2026. These interest rate swaps are designated as cash flow hedges, and are utilized to manage interest rate risk. The interest rate swaps allow for the Company to exchange the difference in the variable rates on Term Loan F determined in reference to LIBOR and the fixed interest rate per notional amount ranging from 1.05% to 1.40%. The effective portion of the changes in fair value of the interest rate swaps is reported in AOCI and reclassified into earnings in the same financial statement line item and in the same periods during which the related interest payments are recognized. The ineffective portion, which is immaterial for all years disclosed, would be immediately recognized in earnings as interest expense. As of December 31, 2022, the total fair value of these interest rate swaps was an asset of $30 million. As of December 31, 2021, the total fair value of these interest rate swaps was immaterial. The fair values of interest rate swap assets are reflected in “Deferred charges and other assets.” The interest rate swaps use Level 2 inputs, which are observable market-based inputs, other than quoted market prices in active markets for identical assets or liabilities, that are directly or indirectly observable. Interest rate swaps are valued using swap curves obtained from an independent market data provider. The value of each is the fair value of all future interest payments between the contract counterparties, discounted to present value. The fair value of the future interest payments is determined by comparing the contract rate to the present value of the derived forward interest rate using an interest rate curve. The Company is subject to certain covenants limiting, among other things, the ability and the ability of most of its subsidiaries to: incur additional indebtedness or issue certain preferred shares; pay dividends on or make distributions in respect of the Company’s or its subsidiaries’ capital stock or make investments or other restricted payments; create restrictions on the ability of the Company’s restricted subsidiaries to pay dividends to the Company or make certain other intercompany transfers; sell certain assets; create liens; consolidate, merge, sell or otherwise dispose of all or substantially all of the Company’s assets; and enter into certain transactions with its affiliates. In the fourth quarter of 2022, the Company amended certain of its covenants and restrictions with respect to the Revolving Credit Facility and Term Loan F. As a result of the amendment, the maximum consolidated total leverage ratio is 3.75 to 1.00. Further, the amendment modified the limits on restricted payments that we may make prior to the resolution of the Brazil Tax Dispute, to be the same as the restricted payment limits set forth in our Notes Indenture. This results in an increase in the limit from $50 million to $60 million if our pro-forma consolidated leverage ratio is less than 2.50 to 1.00 and greater than or equal to 2.00 to 1.00, and from $75 million to $90 million if the pro-forma consolidated leverage ratio is less than 2.00 to 1.00. The amendment also added a separate exception to the limits in place prior to the resolution of the Brazil Tax Dispute, that allows us to repurchase or redeem up to $150 million of the 2029 Senior Notes. In addition, the amendment eliminates the limitations imposed on restricted payments prior to the final settlement of the Brazil Tax Dispute if (i) we deposit $120 million in an account subject to the control of the administrative agent under our credit agreement, or (ii) we deposit $60 million in such an account and maintain $225 million of available liquidity at the time we make restricted payments. The funds deposited in the account would be used to pay for the settlement of the Brazil Tax Dispute, with any excess funds returned to us if our portion of any final settlement amount is less than the amount on deposit. If we meet these conditions, our ability to make restricted payments under the credit agreement would then be governed by the provisions in the credit agreement in effect when the Brazil Tax Dispute is settled. As of December 31, 2022, we were in compliance with our debt covenants. The fair market value of total debt was approximately $1.0 billion at December 31, 2022. At December 31, 2022, contractual obligations for future payments of debt maturities (including finance lease liabilities disclosed in Note 10 Leases ) by calendar year were as follows over the next five years: 2023 - $29 million, 2024 - $28 million; 2025 - $103 million; 2026 - $28 million; 2027 - $399 million; and thereafter - $461 million.

RETIREMENT AND POSTRETIREMENT B

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
RETIREMENT AND POSTRETIREMENT BENEFIT PLANS	RETIREMENT AND POSTRETIREMENT BENEFIT PLANS DEFINED BENEFIT PENSION PLANS The Company sponsors and maintains pension plans for the benefit of certain of the Company’s employees. The service and non-service cost components of net periodic pension expense for these employees is recorded within cost of products sold and selling and administrative expenses. The assets and liabilities related to plans sponsored by the Company are reflected in deferred charges and other assets and other liabilities, respectively. OBLIGATIONS AND FUNDED STATUS The following table shows the changes in the benefit obligation and plan assets and the plans’ funded status. For the current year, all plans are considered single-employer plans, and changes to the projected benefit obligation and plan assets reflect full year activity. Prior to the spin-off on October 1, 2021, all pension plans, with the exception of the U.K. and Brazil plans, were accounted for as multi-employer plans. The transfer of the projected benefit obligation (“PBO”) and assets for those plans is reflected within the Pension plan transfer from Parent line below, and the activity after the spin-off date is reflected within the table for 2021. The changes in the benefit obligation and plan assets for the U.K. and Brazil plans are reflected for the full 2021 period as they were single-employer plans prior to the spin-off. In millions 2022 2021 Change in projected benefit obligation: Benefit obligation, January 1 $ 462 $ 171 Pension plan transfer from Parent — 287 Service cost 6 2 Interest cost 13 6 Actuarial loss (gain) (151) — Benefits paid (7) (5) Expenses paid from assets (1) (1) Effect of foreign currency exchange rate movements (15) 2 Benefit obligation, December 31 $ 307 $ 462 Change in plan assets: Fair value of plan assets, January 1 $ 431 $ 171 Pension plan transfer from Parent — 252 Actual return on plan assets (126) 2 Company contributions 3 10 Benefits paid (7) (5) Expenses paid from assets (1) (1) Effect of foreign currency exchange rate movements (14) 2 Fair value of plan assets, December 31 $ 286 $ 431 Funded status, December 31 $ (21) $ (31) Amounts recognized in the consolidated balance sheets: Non-current asset $ 8 $ 8 Non-current liability (29) (39) $ (21) $ (31) Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): Net prior service cost $ 2 $ 2 Net actuarial loss 91 106 $ 93 $ 108 The accumulated benefit obligation (“ABO”) for all plans was $299 million as of December 31, 2022 and $446 million as of December 31, 2021. The following table reflects the pension plans for which the accumulated benefit obligation or projected benefit obligation exceed the fair value of their respective plan assets at December 31: In millions as of December 31 2022 2021 Pension plans with ABO in excess of plan assets Accumulated benefit obligation $ 201 $ 279 Fair value of plan assets 180 254 Pension plans with PBO in excess of plan assets Projected benefit obligation $ 209 $ 293 Fair value of plan assets 180 254 NET PERIODIC PENSION EXPENSE Service cost is the actuarial present value of benefits attributed by the plans’ benefit formula to services rendered by employees during the year. Interest cost represents the increase in the projected benefit obligation, which is a discounted amount, due to the passage of time. The expected return on plan assets reflects the computed amount of current-year earnings from the investment of plan assets using an estimated long-term rate of return. Net periodic pension expense comprised the following: In millions 2022 2021 2020 Service cost $ 6 $ 2 $ 1 Interest cost 13 6 4 Expected return on plan assets (21) (11) (8) Actuarial loss (gain) 4 2 1 Net periodic pension expense (benefit) $ 2 $ (1) $ (2) ASSUMPTIONS The Company evaluates its actuarial assumptions annually as of December 31 (the measurement date) and considers changes in these long-term factors based upon market conditions and the requirements for employers’ accounting for pensions. These assumptions are used to calculate benefit obligations as of December 31 of the current year and pension expense to be recorded in the following year (i.e., the discount rate used to determine the benefit obligation as of December 31, 2022 is also the discount rate used to determine net pension expense for the 2023 year). Major actuarial assumptions used in determining the benefit obligations and net periodic pension cost for our defined benefit plans are presented in the following table: 2022 2021 2020 Actuarial assumptions used to determine benefit obligations as of December 31: Discount rate 5.52 % 2.79 % 2.27 % Rate of compensation increase 3.36 % 3.36 % 3.54 % Actuarial assumptions used to determine net periodic pension cost for years ended December 31: Discount rate 2.79 % 2.79 % 2.76 % Expected long-term rate of return on plan assets 5.18 % 5.38 % 4.84 % Rate of compensation increase 3.36 % 2.85 % 3.42 % PLAN ASSETS The plans maintain a strategic asset allocation policy that designates target allocations by asset class. Investments are diversified across classes and within each class to minimize the risk of large losses. Derivatives, including swaps, forward and futures contracts, may be used as asset class substitutes or for hedging or other risk management purposes. Periodic reviews are made of investment policy objectives and investment manager performance. The fair value of pension plan assets at December 31, 2022 and 2021 by asset class are shown below for the material plans. Each category of investments for the U.S. plans is diversified and comprised of the following: • Equity investments - developed market and emerging market equity securities primarily held in mutual funds • Debt securities - corporate bonds and government securities, both primarily held within common collective trusts and index funds • Other investments - represents primarily mark-to-market derivatives and cash and cash equivalents Each category of investments for the U.K. plan is diversified and comprised of the following: • Growth assets – equities, diversified growth funds, absolute return fixed income funds, multi-asset credit funds, and other private equity type investments • Stabilizing assets – liability driven investments consisting primarily of interest and inflation linked assets, cash flow driven investments invested primarily in credit markets, and cash and cash equivalents. The target allocations for each asset class in the U.S. plan for the year ended December 31, 2022 and December 31, 2021 were 23% in equity securities, 75% in debt securities and 2% in other investment types. The target allocations for each asset class in the U.K. plan for the years ended December 31, 2022 and December 31, 2021 were 48% in growth assets and 52% in stabilizing assets. Pension assets for the immaterial plans totaled $26 million for the years ended December 31, 2022 and $25 million for the year ended December 31, 2021. These assets primarily relate to government securities within Level 1 of the fair value hierarchy. Fair Value Measurement U.S. Plans 2022 2021 Asset Class Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Observable Inputs (Level 2) Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Observable Inputs (Level 2) In millions Cash and cash equivalents $ 10 $ 10 $ — $ 15 $ 15 $ — Equities - developed markets 41 — 41 62 — 62 Government securities 7 7 — 23 23 — Corporate bonds 108 — 108 137 — 137 Other fixed income securities 9 — 9 12 — 12 Derivatives 1 — 1 2 1 1 Total Investments $ 176 $ 17 $ 159 $ 251 $ 39 $ 212 Fair Value Measurement U.K. Plans 2022 2021 Asset Class Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Observable Inputs (Level 2) Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Observable Inputs (Level 2) In millions Cash and cash equivalents $ 2 $ 2 $ — $ 2 $ 2 $ — Equities - emerging — — — 8 — 8 Diversified growth funds 6 — 6 33 — 33 Multi-asset credit 8 — 8 23 — 23 Absolute return fixed income 4 — 4 12 — 12 Liability driven investments 30 — 30 40 — 40 Cash flow driven investments 25 — 25 37 — 37 Other Investments: Private equity 9 — — — — — Total Investments $ 84 $ 2 $ 73 $ 155 $ 2 $ 153 In accordance with accounting standards, certain investments that are measured at net asset value are not classified in the fair value hierarchy. During the year ended December 31, 2022 the Company increased its investments in private equity fund investment partnerships from an immaterial amount in the prior year. These investments are contractually locked up for the life of the private equity fund by the partnership agreement. The remaining unfunded commitment of these partnership interests is $11 million as of December 31, 2022. FUNDING AND CASH FLOWS The Company’s funding policy for the pension plans is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that the Company may determine to be appropriate considering the funded status of the plans, tax deductibility, cash flow generated by the Company, and other factors. The Company continually reassesses the amount and timing of any discretionary contributions. Generally, the non-U.S. pension plans are funded using the projected benefit as a target, except in certain countries where funding of benefit plans is not required. At December 31, 2022, projected future pension benefit payments, excluding any termination benefits, were as follows: In millions 2023 $ 7 2024 8 2025 10 2026 13 2027 14 2028-2032 103 OTHER POSTRETIREMENT BENEFITS Certain of the Company’s Brazilian employees are eligible for retiree health care and life insurance benefits. The accumulated benefit obligation for this plan as of December 31, 2022 and 2021 was $7 million and $8 million, respectively, which is recorded within other liabilities in the consolidated balance sheets. DEFERRED COMPENSATION AND NON-QUALIFIED PENSION PLAN

INCENTIVE PLANS

INCENTIVE PLANS	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
INCENTIVE PLANS	INCENTIVE PLANS The Company has adopted the Sylvamo 2021 Incentive Compensation Plan, which includes shares under its long-term incentive plan (“LTIP”) that grants certain employees, consultants, or non-employee directors of the Company different forms of awards, including time-based and performance-based restricted stock units. The equity and incentive plan has a maximum shares reserve for the grant of 4,410,725 shares. As of December 31, 2022, 3,235,868 shares remain available for future grants. The following summarizes restricted stock unit and performance-based restricted stock unit activity for employees for the periods ended December 31, 2021 and December 31, 2022: Restricted Stock Units Performance-Based Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Outstanding as of October 1, 2021 — — — — Granted 664,569 28.51 — — Shares issued — — — — Forfeited — — — — Outstanding as of December 31, 2021 664,569 $ 28.51 — $ — Granted 258,518 39.23 321,271 41.47 Shares issued (236,086) 28.67 — — Forfeited (36,272) 31.36 (16,675) 41.47 Outstanding as of December 31, 2022 650,729 $ 32.55 304,596 $ 41.47 Restricted stock units generally vest over a period of three years with one-third of the awarded units vesting annually. The grant date fair value of restricted stock units is valued at the closing stock price on the day prior to the grant date. The expense for restricted stock unit awards is recorded, net of forfeitures, over the vesting period. Performance-based restricted stock units cliff vest at the end of a three-year service period based upon the achievement of two defined performance conditions, Return on Invested Capital (“ROIC”), measured against our internal benchmark, and Total Shareholder Return (“TSR”), compared to a peer group of companies. Expense for performance-based units is recognized, net of forfeitures, over the three-year vesting period. As the ROIC measure contains a performance condition, compensation cost for this component is based upon the grant date fair value of the award and the number of units expected to vest based on performance. As the relative TSR component is a market condition, we utilize a Monte Carlo simulation to determine the grant date fair value and resulting expense to recognize for the units. The Monte Carlo simulation calculates the fair value of the awards on grant date based on the expected term of the award, expected dividends, the risk-free rate and the expected volatility for the Company and its competitors. The expected term is based on the roughly three-year vesting period of the awards, and the expected dividend yield used was zero as the Company had not declared any dividends as of the valuation date. The risk-free rate is based upon the yield of term-matched, zero-coupon securities using the Treasury Constant Maturities yield curve. As Sylvamo did not have sufficient stock price history, the volatility estimate was calculated as a simple average of similar peers and the correlation with the index was calculated as the average index correlation of the peer group. The Monte Carlo simulation to value the relative TSR share units used the following assumptions: 2022 Expected volatility 49.64 % Risk-free interest rate 1.66 % Stock-based compensation expense in the years prior to and until the spin-off on October 1, 2021, includes expense attributable to us based on the awards and terms previously granted to our employees and an allocation of International Paper’s corporate and shared functional expenses. Total stock-based compensation cost and the associated income tax benefits recognized by the Company in the consolidated and combined statements of operations were as follows: In millions 2022 2021 2020 Total stock-based compensation expense (included in selling and administrative expense) $ 20 $ 14 $ 15 Income tax benefit related to stock-based compensation $ 5 $ 3 $ 1

FINANCIAL INFORMATION BY BUSINE

FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA	FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA The Company’s business segments, Europe, Latin America and North America, are consistent with the internal structure used to manage these businesses. As discussed in Note 8 , the Company’s Russian operations have been classified as discontinued operations and as a result are no longer reported within the Europe business segment for any periods presented. Business segment operating profits are used by the Company’s management to measure the earnings performance of its businesses. Management believes that business segment operating profit provides investors and analysts useful insights into our operating performance. We define business segment operating profit as our income from continuing operations before income taxes calculated in accordance with GAAP, excluding net interest expense (income) and net business special items which includes net corporate special items. External sales are defined as those that are made to parties outside the Company’s combined group, whereas sales by business segment in the Net Sales table are determined using a management approach and include intersegment sales. INFORMATION BY BUSINESS SEGMENT Net Sales In millions 2022 2021 2020 Europe $ 501 $ 366 $ 297 Latin America 1,023 786 632 North America 2,173 1,718 1,490 Corporate and Intersegment Sales (69) (42) (34) Net Sales $ 3,628 $ 2,828 $ 2,385 The Company had one customer within our North America business segment that represented approximately 13%, 12% and 14% of our consolidated and combined net sales for the years ended December 31, 2022, 2021 and 2020, respectively. Business Segment Operating Profit In millions 2022 2021 2020 Europe $ 50 $ (29) $ (34) Latin America 212 194 83 North America 291 133 41 Business Segment Operating Profit $ 553 $ 298 $ 90 Income from continuing operations before income taxes $ 467 $ 328 $ 95 Interest expense (income), net 69 (1) (4) Corporate special items, net 12 5 — Other special items, net 5 (34) (1) Business Segment Operating Profit $ 553 $ 298 $ 90 Other Special Items, Net In millions 2022 2021 2020 Europe $ 1 $ — $ — Latin America — (35) (2) North America 4 1 1 Other Special Items, Net $ 5 $ (34) $ (1) Assets In millions as of December 31 2022 2021 Europe $ 258 $ 218 Latin America 1,129 1,034 North America 894 868 Corporate and Other (a) 429 477 Assets $ 2,710 $ 2,597 (a) Includes corporate assets and assets of businesses held for sale. Capital Spending In millions 2022 2021 2020 Europe $ 7 $ 6 $ 6 Latin America 76 39 45 North America 66 24 15 Capital Spending $ 149 $ 69 $ 66 Depreciation, Amortization and Cost of Timber Harvested In millions 2022 2021 2020 Europe $ 15 $ 18 $ 19 Latin America 59 58 66 North America 51 50 50 Depreciation, Amortization and Cost of Timber Harvested $ 125 $ 126 $ 135 INFORMATION BY GEOGRAPHIC AREA External Net Sales (a) In millions 2022 2021 2020 United States $ 2,173 $ 1,718 $ 1,490 Brazil 1,008 734 576 Europe 501 366 297 Americas, other than United States and Brazil 15 52 56 Corporate and Intersegment Sales (69) (42) (34) Net Sales $ 3,628 $ 2,828 $ 2,385 (a) Net sales are attributed to countries based on the location of the seller. Long-Lived Assets In millions as of December 31 2022 2021 United States $ 436 $ 413 Brazil 635 546 Europe 68 83 Long-Lived Assets $ 1,139 $ 1,042

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Prior to the spin-off on October 1, 2021, we historically operated as part of International Paper and not as a standalone company. As a result of the spin-off on October 1, 2021, Sylvamo became an independent public company. The following discussion summarizes activity between the Company and International Paper both prior and subsequent to the spin-off. On September 12, 2022, International Paper sold its remaining shares of Sylvamo stock. Therefore, International Paper is no longer a related party. ALLOCATION OF GENERAL CORPORATE EXPENSES The consolidated and combined statements of operations include expenses for certain centralized functions and other programs provided and administered by International Paper that were charged directly to the Company. In addition, for purposes of preparing these consolidated and combined financial statements for periods prior to the spin-off on a carve-out basis, we have been allocated a portion of International Paper’s total corporate expense. See Note 1 Background and Summary of Business for a discussion of the methodology used to allocate corporate-related costs for purposes of preparing these financial statements on a carve-out basis. Net transfers (to) from Parent are included within Parent company investment on the consolidated and combined balance sheets and statements of equity. The components of the net transfers (to) from International Paper are as follows: In millions 2022 2021 2020 General financing activities $ — $ (661) $ (494) Corporate allocations — 112 154 Stock-based compensation — 10 15 Final spin-off adjustments — (28) — Total net transfers (to) from Parent $ — $ (567) $ (325) RELATED PARTY SALES AND PURCHASES The Company purchases certain of its products from International Paper which are produced in facilities that remained with International Paper when the Company separated from International Paper. The Company continues to purchase uncoated freesheet and bristols pursuant to an offtake agreement between the Company and International Paper. The Company purchased inventory associated with the offtake agreements of $462 million during the first three quarters of 2022 and $133 million during the fourth quarter of 2021. The Company purchases fiber pursuant to a fiber purchase agreement between the Company and International Paper. The Company purchased inventory associated with the fiber supply agreements of $153 million during the first three quarters of 2022 and $52 million during the fourth quarter of 2021. The Company also purchases certain packaging materials from International Paper. These packaging purchases totaled $12 million for the first three quarters of 2022 and were immaterial for the fourth quarter of 2021. TRANSITION SERVICES AGREEMENT Pursuant to the Transition Services Agreement, International Paper and Sylvamo provided certain services to one another on an interim, transitional basis. The services included certain information technology services, finance and accounting services and human resources and employee benefits services. The agreed-upon charges for such services were generally intended to allow the providing company to recover all costs and expenses for providing such services. The total amount of expenses incurred by the Company under the Transition Services Agreement in 2022 and 2021 was $23 million and $7 million, respectively. The Company is no longer receiving services under this agreement as of December 31, 2022. RELATED PARTY RECEIVABLE The Company had related party receivables of $3 million as of December 31, 2021, related to product sales to International Paper and other items. Related party receivables are included in “Accounts and notes receivable.” RELATED PARTY PAYABLE The Company had related party payables of $110 million as of December 31, 2021, related to inventory purchases from International Paper. Related party payables are included in “Accounts payable” and “Other current liabilities.” Included in our December 31, 2021 inventory purchases payable is a $77 million related party payable, pursuant to the terms of the supply and offtake agreements between the Company and International Paper, which was repaid throughout the first six months of 2022.

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements (Policies)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	Prior to the spin-off, we historically operated as part of International Paper and not as a standalone company. These consolidated and combined financial statements reflect the combined historical financial position, results of operations and cash flows of the Company as historically managed within International Paper for the periods prior to the completion of the spin-off and reflect our consolidated financial position, results of operations and cash flows for the period after the completion of the spin-off. The consolidated and combined financial statements have been prepared in United States (“U.S.”) dollars and in conformity with accounting principles generally accepted in the United States (‘‘U.S. GAAP’’). The consolidated and combined financial statements may not be indicative of the Company’s future performance and do not necessarily reflect what the results of operations, financial position and cash flows would have been had it operated as an independent company during all periods presented.

BASIS OF CONSOLIDATION AND CO_2

BASIS OF CONSOLIDATION AND COMBINATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Consolidation	BASIS OF CONSOLIDATION AND COMBINATION Our financial statements include amounts and disclosures related to the stand-alone financial statements and accounting records of the Company for the period after the spin-off (“consolidated”) in combination with amounts and disclosures that have been derived from the consolidated financial statements and accounting records of International Paper for the periods prior to the spin-off (“combined”). Any references to our financial statements, financial data and operating data refer to our accompanying consolidated and combined financial statements unless otherwise noted.
Use of Estimates	USE OF ESTIMATES In preparing the consolidated and combined financial statements in accordance with U.S. GAAP, management makes estimates and assumptions that affect amounts reported in the consolidated and combined financial statements and accompanying notes. Actual results may differ from those estimates.
Revenue Recognition, Shipping and Handling Costs	REVENUE RECOGNITION The Company recognizes revenue on a point-in-time basis when the customer takes title to the goods and assumes the risks and rewards for the goods. For customized goods where the Company has a legally enforceable right to payment for the goods, the Company recognizes revenue over time, which generally is as the goods are produced. The Company’s revenue is primarily derived from fixed consideration; however, we do have contract terms that give rise to variable consideration, primarily volume rebates, early payment discounts and other customer refunds. The Company estimates its volume rebates at the individual customer level based upon the terms of the arrangement and expected volume purchases over the contract period, consistent with the most likely amount method outlined in ASC 606. The Company estimates early payment discounts and other customer refunds based on the historical experience across the Company’s portfolio of customers
Business Combinations Policy	BUSINESS COMBINATIONSThe Company allocates the total consideration of the assets acquired and liabilities assumed based on their estimated fair value as of the business combination date. In developing estimates of fair values for long-lived assets, including identifiable intangible assets, the Company utilizes a variety of inputs including forecasted cash flows, anticipated growth rates, discount rates, customer attrition, royalty rates, estimated replacement costs and depreciation and obsolescence factors. Determining the fair value for specifically identified intangible assets such as customer lists and developed technology involves judgment. We may refine our estimates and make adjustments to the assets acquired and liabilities assumed over a measurement period, not to exceed one year. Upon the conclusion of the measurement period or the final determination of the values of assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments are charged to the consolidated statements of operations.
Discontinued Operations, Policy	DISCONTINUED OPERATIONSA discontinued operation may include a component or a group of components of the Company's operations. A disposal of a component or a group of components is reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on the Company's operations and financial results when the following occurs: (1) a component (or group of components) meets the criteria to be classified as held for sale; (2) the component or group of components is disposed of by sale; or (3) the component or group of components is disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spin-off). For any component classified as held for sale or disposed of by sale or other than by sale, qualifying for presentation as a discontinued operation, the Company reports the results of operations of the discontinued operations (including any gain or loss recognized on the disposal or loss recognized on classification as held for sale of a discontinued operation), less applicable income taxes (benefit), as a separate component in the consolidated statements of operations for current and all prior periods presented. The Company also reports assets and liabilities associated with discontinued operations as separate line items on the consolidated balance sheets for prior periods.
Temporary Investments	TEMPORARY INVESTMENTSTemporary investments with an original maturity of three months or less and money market funds with greater than three-month maturities but with the right to redeem without notice are treated as cash equivalents and are stated at cost, which approximates market value.
Cost of Goods and Service	COST OF GOODS SOLDCosts of goods sold represents costs directly related to the manufacture of our products. Primary costs include raw materials, packaging, direct labor, overhead, warehousing costs and shipping and handling costs, such as freight to customers’ destinations.
Inventories	INVENTORIESInventories are valued at the lower of cost or market value and include costs directly associated with manufacturing products: materials, labor and manufacturing overhead. In the United States, costs of raw materials and finished paper and pulp products are generally determined using the last-in, first-out method. Other inventories are valued using the first-in, first-out or average cost methods.
Leased Assets	LEASED ASSETS Operating lease right of use (“ROU”) assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. The Company’s leases may include options to extend the lease. These options to extend are included in the lease term when it is reasonably certain that we will exercise that option. Some leases have
Plants, Properties and Equipment	PLANTS, PROPERTIES AND EQUIPMENTPlants, properties and equipment are stated at cost, less accumulated depreciation. Expenditures for betterments are capitalized, whereas normal repairs and maintenance are expensed as incurred. The units-of-production method of depreciation is used for the mills, and the straight-line method is used for other plants and equipment.
Goodwill	GOODWILL Annual evaluation for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim evaluation performed when management believes that it is more likely than not that events or circumstances have occurred that would result in the impairment of a reporting unit’s goodwill.
Impairment of Long-Lived Assets	IMPAIRMENT OF LONG-LIVED ASSETSLong-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that the carrying value of the assets may not be recoverable. A recoverability test is performed based on undiscounted cash flows, requiring judgments as to the weighting of operational alternatives being considered by management and estimates of the amount and timing of expected future cash flows from the use of the long-lived assets generated by their use. Impaired assets are written-down to their estimated fair value.
Employee Retirement Benefits	EMPLOYEE RETIREMENT BENEFITS Prior to September 1, 2021, certain of the Company’s employees participated in defined benefit and other postretirement plans sponsored by International Paper in the U.S., Belgium, France, and Poland. These plans were accounted for by International Paper in accordance with accounting guidance for defined benefit pension and other postretirement benefit plans. The Company accounted for the participation of its employees in these plans as a participant in a multi-employer plan sponsored by International Paper. On September 1, 2021, the Company established legally separate plans from International Paper, in which International Paper transferred both pension liabilities and qualified pension assets to the Company for all of the Company’s active participants.
Income Taxes	INCOME TAXES We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Deferred tax assets are recognized to the extent that we believe that these assets are more likely than not to be realized. We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company was included in the foreign and domestic tax returns of International Paper until its separation from International Paper on October 1, 2021. For the periods prior to the spin-off, we calculated the provision for income taxes by using a separate-return method. Any difference between the tax provision (or benefit) allocated to us under the separate-return method and payments to be made to (or received from) International Paper for tax expense is treated as either dividends or capital contributions.
Translation of Financial Statements	TRANSLATION OF FINANCIAL STATEMENTSBalance sheets of international operations are translated into U.S. dollars at period-end exchange rates, while statements of operations are translated at average rates. Adjustments resulting from financial statement translations are included as cumulative translation adjustments in accumulated other comprehensive income (loss) (“AOCI”).
Recently Issued Accounting Pronouncements Not Yet Adopted	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Reference Rate Reform

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
External net sales by major products	External net sales by major products were as follows: In millions 2022 2021 2020 Europe Uncoated Papers $ 396 $ 271 $ 211 Market Pulp 105 77 60 Europe 501 348 271 Latin America Uncoated Papers 954 732 579 Market Pulp — 37 53 Latin America 954 769 632 North America Uncoated Papers 2,091 1,643 1,428 Market Pulp 82 68 54 North America 2,173 1,711 1,482 Total $ 3,628 $ 2,828 $ 2,385

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Changes in Accumulated other comprehensive income (loss) (“AOCI”), net of tax	The following table presents the changes in AOCI, net of tax, reported in the consolidated and combined financial statements: In millions 2022 2021 2020 Defined Benefit Pension and Postretirement Adjustments Balance at beginning of period $ (80) $ (48) $ (44) Other comprehensive income (loss) before reclassifications 4 (3) (5) Pension plan transfer from Parent — (30) — Amounts reclassified from accumulated other comprehensive income — 1 1 Balance at end of period (76) (80) (48) Change in Cumulative Foreign Currency Translation Adjustments Balance at beginning of period (1,719) (1,433) (1,187) Transfer from Parent — (113) — Disposal of business 375 — — Other comprehensive income (loss) before reclassifications 56 (173) (246) Balance at end of period (1,288) (1,719) (1,433) Net Gains and Losses on Cash Flow Hedging Derivatives Balance at beginning of period (2) 1 2 Other comprehensive income (loss) before reclassifications 41 (2) (25) Amounts reclassified from accumulated other comprehensive income (13) (1) 24 Balance at end of period 26 (2) 1 Total Accumulated Other Comprehensive Income (Loss) at End of Period $ (1,338) $ (1,801) $ (1,480)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted earnings per share from continuing operations are calculated as follows: In millions, except per share amounts 2022 2021 2020 Net income from continuing operations $ 336 $ 227 $ 87 Weighted average common shares outstanding 43.9 44.0 44.0 Effect of dilutive securities 0.5 — — Weighted average common shares outstanding - assuming dilution 44.4 44.0 44.0 Earnings per share from continuing operations - basic $ 7.65 $ 5.16 $ 1.97 Earnings per share from continuing operations - diluted $ 7.57 $ 5.16 $ 1.97

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the preliminary allocation of the purchase price to the fair value assigned to assets and liabilities acquired as of January 2, 2023: In millions Assets $ 190 Goodwill 46 Less: Liabilities assumed (76) Net assets acquired $ 160

DIVESTITURE AND IMPAIRMENT OF_2

DIVESTITURE AND IMPAIRMENT OF BUSINESS (Tables)	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following summarizes the major classes of line items comprising “Income Before Income Taxes” reconciled to “Discontinued operations, net of tax,” related to the Russian operations for all periods presented in the consolidated and combined statement of operations. In millions for the years ended December 31 2022 2021 2020 NET SALES $ 518 $ 674 $ 624 COSTS AND EXPENSES Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below) 425 518 493 Selling and administrative expenses 10 6 7 Depreciation, amortization and cost of timber harvested 4 17 19 Taxes other than payroll and income taxes 1 2 2 Impairment of business 296 — — Interest expense (income), net (3) (1) — INCOME BEFORE INCOME TAXES (215) 132 103 Income tax provision 3 28 20 DISCONTINUED OPERATIONS, NET OF TAXES $ (218) $ 104 $ 83 The following summarizes the major classes of assets and liabilities of the Russian operations reconciled to current assets and long-term assets held for sale and current and long-term liabilities held for sale in the accompanying consolidated balance sheets: In millions as of December 31 2021 Cash and temporary investments $ 21 Accounts and notes receivable 88 Contract assets 3 Inventories 63 Other current assets 4 Current Assets Held for Sale $ 179 Plants, Properties and Equipment $ 121 Goodwill 10 Right of Use Assets 1 Deferred Charges and Other Assets 9 Long-Term Assets Held for Sale $ 141 Notes payable and current maturities of long-term debt $ 1 Accounts payable 58 Accrued payroll and benefits 3 Other current liabilities 29 Current Liabilities Held for Sale $ 91 Long-Term Debt $ 1 Other Liabilities 12 Long-Term Liabilities Held for Sale $ 13 The following summarizes the total cash provided by operating activities from discontinued operations, net and total cash provided by (used for) investing activities from discontinued operations, net and included in the consolidated statement of cash flows: In millions for the years ended December 31 2022 2021 2020 Cash Provided by Operating Activities $ 20 $ 126 $ 114 Cash Provided by (Used for) Investment Activities (a) $ (5) $ 14 $ (11)

SUPPLEMENTARY FINANCIAL STATE_2

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts and Notes Receivable Net	Accounts and notes receivable, net, by classification were: In millions as of December 31 2022 2021 Accounts and notes receivable: Trade $ 430 $ 391 Notes and other 20 11 Total $ 450 $ 402
Schedule of Inventories	INVENTORIES In millions as of December 31 2022 2021 Raw materials $ 40 $ 37 Finished paper and pulp products 226 164 Operating supplies 78 69 Other 20 9 Total $ 364 $ 279
Schedule of Plants, Properties and Equipment, net	PLANTS, PROPERTIES AND EQUIPMENT, NET In millions as of December 31 2022 2021 Land $ 8 $ 9 Buildings 361 351 Machinery 3,903 3,827 Construction in progress 103 28 Capital leases 37 37 Gross cost 4,412 4,252 Less: Accumulated depreciation 3,595 3,488 Plants, Properties and Equipment, net $ 817 $ 764
Schedule of Interest Expense	Amounts related to interest were as follows: In millions 2022 2021 2020 Interest expense (a) $ 80 $ 32 $ 4 Interest income (8) (32) (8) Capitalized interest costs (3) (1) — (a) Interest expense for 2022 includes $5 million of debt extinguishment cost related to the repayment of the total outstanding balance of Term Loan B in the fourth quarter.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Components of Lease Cost	COMPONENTS OF LEASE EXPENSE In millions 2022 2021 2020 Operating lease costs $ 18 $ 9 $ 8 Variable lease costs 28 20 16 Short-term lease costs 7 7 1 Finance lease cost Amortization of right-of-use assets 4 3 2 Interest on lease liabilities 1 1 1 Total lease cost, net $ 58 $ 40 $ 28 LEASE TERM AND DISCOUNT RATE 2022 2021 Weighted average remaining lease term (years) Operating leases 5.8 years 3.5 years Finance leases 7.5 years 7.4 years Weighted average discount rate Operating leases 2.84 % 1.30 % Finance leases 3.90 % 3.31 % SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES In millions 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows related to operating leases $ 21 $ 11 Operating cash flows related to financing leases 1 1 Financing cash flows related to finance leases 5 3 Right of use assets obtained in exchange for lease liabilities Operating leases 14 32 Finance leases — 1
Schedule of Supplemental Balance Sheet Information Related To Leases	SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES In millions Classification 2022 2021 Assets Operating lease assets Right of use assets $ 35 $ 40 Finance lease assets Plants, properties, and equipment, net (a) 24 27 Total leased assets $ 59 $ 67 Liabilities Current Operating Other current liabilities $ 13 $ 15 Finance Notes payable and current maturities of long-term debt 3 3 Noncurrent Operating Other Liabilities 28 25 Finance Long-term debt 14 17 Total lease liabilities $ 58 $ 60
Maturity of Finance Leases	MATURITY OF LEASE LIABILITIES In millions Operating Leases Financing Leases Total 2023 $ 14 $ 3 $ 17 2024 10 2 12 2025 5 2 7 2026 3 2 5 2027 2 2 4 Thereafter 11 11 22 Total lease payments 45 22 67 Less: imputed interest 4 5 9 Present value of lease liabilities $ 41 $ 17 $ 58
Maturity of Finance Leases	MATURITY OF LEASE LIABILITIES In millions Operating Leases Financing Leases Total 2023 $ 14 $ 3 $ 17 2024 10 2 12 2025 5 2 7 2026 3 2 5 2027 2 2 4 Thereafter 11 11 22 Total lease payments 45 22 67 Less: imputed interest 4 5 9 Present value of lease liabilities $ 41 $ 17 $ 58

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Goodwill	The following table presents changes in the goodwill balance as allocated to each business segment: In millions Europe Latin North America Total Balance as of December 31, 2020 Goodwill $ 13 $ 121 $ — $ 134 Accumulated impairment losses (1) — — (1) 12 121 — 133 Currency translation and other (a) (2) (9) — (11) Goodwill additions/reductions — — — — Accumulated impairment loss additions/reductions — — — — Balance as of December 31, 2021 Goodwill 11 112 — 123 Accumulated impairment losses (1) — — (1) 10 112 — 122 Currency translation and other (a) — 6 — 6 Goodwill additions/reductions — — — — Accumulated impairment loss additions/reductions — — — — Balance as of December 31, 2022 Goodwill 11 118 — 129 Accumulated impairment losses (1) — — (1) Total $ 10 $ 118 $ — $ 128
Schedule of Identifiable Intangible Assets	Identifiable intangible assets comprised the following: 2022 2021 In millions as of December 31, Gross Carrying Amount Accumulated Amortization Net Intangible Assets Gross Carrying Amount Accumulated Amortization Net Intangible Assets Customer relationships and lists $ 56 $ (50) $ 6 $ 56 $ (48) $ 8 Software 3 (3) — 3 (2) 1 Other 4 (3) 1 4 (4) — Total $ 63 $ (56) $ 7 $ 63 $ (54) $ 9
Amortization expense related to intangible assets	The Company recognized the following amounts as amortization expense related to intangible assets: In millions 2022 2021 2020 Amortization expense related to intangible assets $ 2 $ 2 $ 2

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income (loss) before income taxes	The components of the Company’s income from continuing operations before income taxes by taxing jurisdiction were as follows: In millions 2022 2021 2020 U.S. $ 176 $ 80 $ 10 Non-U.S. 291 248 85 Income from continuing operations before income taxes $ 467 $ 328 $ 95
Schedule of provision for income taxes	Income tax provision by taxing jurisdictions was as follows: In millions 2022 2021 2020 Current tax provision U.S. federal $ 56 $ 26 $ (4) U.S. state and local 15 5 2 Non-U.S. 67 76 59 $ 138 $ 107 $ 57 Deferred tax provision U.S. federal $ (11) $ (3) $ (4) U.S. state and local (1) (1) (1) Non-U.S. 5 (2) (44) $ (7) $ (6) $ (49) Income tax provision $ 131 $ 101 $ 8
Schedule of reconciliation of income taxes using the statutory U.S. income tax rate	A reconciliation of income taxes using the statutory U.S. income tax rate of 21% compared to the reported income tax provision is summarized as follows: In millions 2022 2021 2020 Income from continuing operations before income taxes $ 467 $ 328 $ 95 Statutory U.S. income tax rate 21 % 21 % 21 % Income taxes using the statutory U.S. income tax rate 98 69 20 State and local income taxes 11 5 1 Impact of rate differential on non-U.S. permanent differences and earnings 11 27 (2) Tax audits — — (10) U.S. tax on non-U.S. earnings (GILTI and Subpart F) 11 — 1 Other, net — — (2) Income tax provision $ 131 $ 101 $ 8 Effective income tax rate 28 % 31 % 8 %
Schedule of components of deferred income tax assets and liabilities	The components of deferred income tax assets and liabilities are as follows: In millions 2022 2021 Deferred income tax assets: Net operating and capital loss carryforwards $ 21 $ 22 Accrued payroll and benefits 31 25 Lease liabilities 7 6 Tax credits 24 4 Other 30 38 Gross deferred income tax assets 113 95 Less: valuation allowance (32) (9) Net deferred income tax asset $ 81 $ 86 Deferred income tax liabilities: Intangibles $ (44) $ (37) Right of use assets (6) (6) Deferred foreign income (50) (40) Plants, properties and equipment (84) (92) Forestlands (48) (45) Gross deferred income tax liabilities (232) (220) Net deferred income tax liability $ (151) $ (134)
Schedule of Unrecognized Tax Benefits Roll Forward	The reconciliation of the beginning and ending amount of unrecognized tax benefits were as follows: In millions 2022 2021 2020 Balance at January 1 $ (3) $ (18) $ (28) (Additions) reductions for tax positions related to current year (1) (2) (1) Reductions for tax positions related to prior years — — 11 Transfer of tax positions related to prior years to Parent — 17 — Balance at December 31 $ (4) $ (3) $ (18)
Summary of Tax Credit Carryforwards	The following details the scheduled expiration dates of the Company’s December 31, 2022 net operating loss and income tax credit carryforwards: In millions 2023 Through 2032 Indefinite Total Non-U.S. NOLs $ 8 $ 13 $ 21 U.S. federal, non-U.S. and state tax credit — 24 24 Total 8 37 45 Less: valuation allowance (8) (24) (32) Total, net $ — $ 13 $ 13

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt is summarized in the following table: In millions as of December 31 2022 2021 Term Loan F - due 2027 (a) $ 496 $ 512 Term Loan B - due 2028 (b) — 401 7% Senior Notes - due 2029 (c) 444 443 Securitization Program (d) 75 — Other 17 20 Less: current portion (29) (19) Total $ 1,003 $ 1,357 (a) As of December 31, 2022 and December 31, 2021, presented net of $4 million and $5 million in unamortized debt issuance costs, respectively. (b) As of December 31, 2021, presented net of $5 million in unamortized debt issuance costs and $4 million in unamortized original issue discount paid. (c) As of December 31, 2022 and December 31, 2021, presented net of $6 million and $7 million in unamortized debt issuance costs, respectively. (d) Subsequent to year-end, the Company repaid $30 million of the outstanding balance on the Securitization Program.

RETIREMENT AND POSTRETIREMENT_2

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Summary of changes in projected benefit obligations, fair value of plan assets, and funded status of plan	The following table shows the changes in the benefit obligation and plan assets and the plans’ funded status. For the current year, all plans are considered single-employer plans, and changes to the projected benefit obligation and plan assets reflect full year activity. Prior to the spin-off on October 1, 2021, all pension plans, with the exception of the U.K. and Brazil plans, were accounted for as multi-employer plans. The transfer of the projected benefit obligation (“PBO”) and assets for those plans is reflected within the Pension plan transfer from Parent line below, and the activity after the spin-off date is reflected within the table for 2021. The changes in the benefit obligation and plan assets for the U.K. and Brazil plans are reflected for the full 2021 period as they were single-employer plans prior to the spin-off. In millions 2022 2021 Change in projected benefit obligation: Benefit obligation, January 1 $ 462 $ 171 Pension plan transfer from Parent — 287 Service cost 6 2 Interest cost 13 6 Actuarial loss (gain) (151) — Benefits paid (7) (5) Expenses paid from assets (1) (1) Effect of foreign currency exchange rate movements (15) 2 Benefit obligation, December 31 $ 307 $ 462 Change in plan assets: Fair value of plan assets, January 1 $ 431 $ 171 Pension plan transfer from Parent — 252 Actual return on plan assets (126) 2 Company contributions 3 10 Benefits paid (7) (5) Expenses paid from assets (1) (1) Effect of foreign currency exchange rate movements (14) 2 Fair value of plan assets, December 31 $ 286 $ 431 Funded status, December 31 $ (21) $ (31) Amounts recognized in the consolidated balance sheets: Non-current asset $ 8 $ 8 Non-current liability (29) (39) $ (21) $ (31) Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): Net prior service cost $ 2 $ 2 Net actuarial loss 91 106 $ 93 $ 108
Schedule of amounts recognized in balance sheet	The following table shows the changes in the benefit obligation and plan assets and the plans’ funded status. For the current year, all plans are considered single-employer plans, and changes to the projected benefit obligation and plan assets reflect full year activity. Prior to the spin-off on October 1, 2021, all pension plans, with the exception of the U.K. and Brazil plans, were accounted for as multi-employer plans. The transfer of the projected benefit obligation (“PBO”) and assets for those plans is reflected within the Pension plan transfer from Parent line below, and the activity after the spin-off date is reflected within the table for 2021. The changes in the benefit obligation and plan assets for the U.K. and Brazil plans are reflected for the full 2021 period as they were single-employer plans prior to the spin-off. In millions 2022 2021 Change in projected benefit obligation: Benefit obligation, January 1 $ 462 $ 171 Pension plan transfer from Parent — 287 Service cost 6 2 Interest cost 13 6 Actuarial loss (gain) (151) — Benefits paid (7) (5) Expenses paid from assets (1) (1) Effect of foreign currency exchange rate movements (15) 2 Benefit obligation, December 31 $ 307 $ 462 Change in plan assets: Fair value of plan assets, January 1 $ 431 $ 171 Pension plan transfer from Parent — 252 Actual return on plan assets (126) 2 Company contributions 3 10 Benefits paid (7) (5) Expenses paid from assets (1) (1) Effect of foreign currency exchange rate movements (14) 2 Fair value of plan assets, December 31 $ 286 $ 431 Funded status, December 31 $ (21) $ (31) Amounts recognized in the consolidated balance sheets: Non-current asset $ 8 $ 8 Non-current liability (29) (39) $ (21) $ (31) Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): Net prior service cost $ 2 $ 2 Net actuarial loss 91 106 $ 93 $ 108
Schedule of amounts recognized in other comprehensive income (loss)	The following table shows the changes in the benefit obligation and plan assets and the plans’ funded status. For the current year, all plans are considered single-employer plans, and changes to the projected benefit obligation and plan assets reflect full year activity. Prior to the spin-off on October 1, 2021, all pension plans, with the exception of the U.K. and Brazil plans, were accounted for as multi-employer plans. The transfer of the projected benefit obligation (“PBO”) and assets for those plans is reflected within the Pension plan transfer from Parent line below, and the activity after the spin-off date is reflected within the table for 2021. The changes in the benefit obligation and plan assets for the U.K. and Brazil plans are reflected for the full 2021 period as they were single-employer plans prior to the spin-off. In millions 2022 2021 Change in projected benefit obligation: Benefit obligation, January 1 $ 462 $ 171 Pension plan transfer from Parent — 287 Service cost 6 2 Interest cost 13 6 Actuarial loss (gain) (151) — Benefits paid (7) (5) Expenses paid from assets (1) (1) Effect of foreign currency exchange rate movements (15) 2 Benefit obligation, December 31 $ 307 $ 462 Change in plan assets: Fair value of plan assets, January 1 $ 431 $ 171 Pension plan transfer from Parent — 252 Actual return on plan assets (126) 2 Company contributions 3 10 Benefits paid (7) (5) Expenses paid from assets (1) (1) Effect of foreign currency exchange rate movements (14) 2 Fair value of plan assets, December 31 $ 286 $ 431 Funded status, December 31 $ (21) $ (31) Amounts recognized in the consolidated balance sheets: Non-current asset $ 8 $ 8 Non-current liability (29) (39) $ (21) $ (31) Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): Net prior service cost $ 2 $ 2 Net actuarial loss 91 106 $ 93 $ 108
Schedule of accumulated and projected benefit obligations	In millions as of December 31 2022 2021 Pension plans with ABO in excess of plan assets Accumulated benefit obligation $ 201 $ 279 Fair value of plan assets 180 254 Pension plans with PBO in excess of plan assets Projected benefit obligation $ 209 $ 293 Fair value of plan assets 180 254
Schedule of defined benefit plans disclosures	In millions as of December 31 2022 2021 Pension plans with ABO in excess of plan assets Accumulated benefit obligation $ 201 $ 279 Fair value of plan assets 180 254 Pension plans with PBO in excess of plan assets Projected benefit obligation $ 209 $ 293 Fair value of plan assets 180 254
Schedule of net benefit costs	Net periodic pension expense comprised the following: In millions 2022 2021 2020 Service cost $ 6 $ 2 $ 1 Interest cost 13 6 4 Expected return on plan assets (21) (11) (8) Actuarial loss (gain) 4 2 1 Net periodic pension expense (benefit) $ 2 $ (1) $ (2)
Schedule of assumptions used to determine the net periodic (benefit)/cost	Major actuarial assumptions used in determining the benefit obligations and net periodic pension cost for our defined benefit plans are presented in the following table: 2022 2021 2020 Actuarial assumptions used to determine benefit obligations as of December 31: Discount rate 5.52 % 2.79 % 2.27 % Rate of compensation increase 3.36 % 3.36 % 3.54 % Actuarial assumptions used to determine net periodic pension cost for years ended December 31: Discount rate 2.79 % 2.79 % 2.76 % Expected long-term rate of return on plan assets 5.18 % 5.38 % 4.84 % Rate of compensation increase 3.36 % 2.85 % 3.42 %
Defined benefit plan, plan assets, category	The target allocations for each asset class in the U.S. plan for the year ended December 31, 2022 and December 31, 2021 were 23% in equity securities, 75% in debt securities and 2% in other investment types. The target allocations for each asset class in the U.K. plan for the years ended December 31, 2022 and December 31, 2021 were 48% in growth assets and 52% in stabilizing assets. Pension assets for the immaterial plans totaled $26 million for the years ended December 31, 2022 and $25 million for the year ended December 31, 2021. These assets primarily relate to government securities within Level 1 of the fair value hierarchy. Fair Value Measurement U.S. Plans 2022 2021 Asset Class Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Observable Inputs (Level 2) Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Observable Inputs (Level 2) In millions Cash and cash equivalents $ 10 $ 10 $ — $ 15 $ 15 $ — Equities - developed markets 41 — 41 62 — 62 Government securities 7 7 — 23 23 — Corporate bonds 108 — 108 137 — 137 Other fixed income securities 9 — 9 12 — 12 Derivatives 1 — 1 2 1 1 Total Investments $ 176 $ 17 $ 159 $ 251 $ 39 $ 212 Fair Value Measurement U.K. Plans 2022 2021 Asset Class Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Observable Inputs (Level 2) Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Observable Inputs (Level 2) In millions Cash and cash equivalents $ 2 $ 2 $ — $ 2 $ 2 $ — Equities - emerging — — — 8 — 8 Diversified growth funds 6 — 6 33 — 33 Multi-asset credit 8 — 8 23 — 23 Absolute return fixed income 4 — 4 12 — 12 Liability driven investments 30 — 30 40 — 40 Cash flow driven investments 25 — 25 37 — 37 Other Investments: Private equity 9 — — — — — Total Investments $ 84 $ 2 $ 73 $ 155 $ 2 $ 153
Schedule of expected future benefit payments	At December 31, 2022, projected future pension benefit payments, excluding any termination benefits, were as follows: In millions 2023 $ 7 2024 8 2025 10 2026 13 2027 14 2028-2032 103

INCENTIVE PLANS (Tables)

INCENTIVE PLANS (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity	The following summarizes restricted stock unit and performance-based restricted stock unit activity for employees for the periods ended December 31, 2021 and December 31, 2022: Restricted Stock Units Performance-Based Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Outstanding as of October 1, 2021 — — — — Granted 664,569 28.51 — — Shares issued — — — — Forfeited — — — — Outstanding as of December 31, 2021 664,569 $ 28.51 — $ — Granted 258,518 39.23 321,271 41.47 Shares issued (236,086) 28.67 — — Forfeited (36,272) 31.36 (16,675) 41.47 Outstanding as of December 31, 2022 650,729 $ 32.55 304,596 $ 41.47
Schedule of Stock Based Compensation Cost and Income Tax Benefits Recognized	Total stock-based compensation cost and the associated income tax benefits recognized by the Company in the consolidated and combined statements of operations were as follows: In millions 2022 2021 2020 Total stock-based compensation expense (included in selling and administrative expense) $ 20 $ 14 $ 15 Income tax benefit related to stock-based compensation $ 5 $ 3 $ 1

FINANCIAL INFORMATION BY BUSI_2

FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting	INFORMATION BY BUSINESS SEGMENT Net Sales In millions 2022 2021 2020 Europe $ 501 $ 366 $ 297 Latin America 1,023 786 632 North America 2,173 1,718 1,490 Corporate and Intersegment Sales (69) (42) (34) Net Sales $ 3,628 $ 2,828 $ 2,385 The Company had one customer within our North America business segment that represented approximately 13%, 12% and 14% of our consolidated and combined net sales for the years ended December 31, 2022, 2021 and 2020, respectively. Business Segment Operating Profit In millions 2022 2021 2020 Europe $ 50 $ (29) $ (34) Latin America 212 194 83 North America 291 133 41 Business Segment Operating Profit $ 553 $ 298 $ 90 Income from continuing operations before income taxes $ 467 $ 328 $ 95 Interest expense (income), net 69 (1) (4) Corporate special items, net 12 5 — Other special items, net 5 (34) (1) Business Segment Operating Profit $ 553 $ 298 $ 90 Other Special Items, Net In millions 2022 2021 2020 Europe $ 1 $ — $ — Latin America — (35) (2) North America 4 1 1 Other Special Items, Net $ 5 $ (34) $ (1) Assets In millions as of December 31 2022 2021 Europe $ 258 $ 218 Latin America 1,129 1,034 North America 894 868 Corporate and Other (a) 429 477 Assets $ 2,710 $ 2,597 (a) Includes corporate assets and assets of businesses held for sale. Capital Spending In millions 2022 2021 2020 Europe $ 7 $ 6 $ 6 Latin America 76 39 45 North America 66 24 15 Capital Spending $ 149 $ 69 $ 66 Depreciation, Amortization and Cost of Timber Harvested In millions 2022 2021 2020 Europe $ 15 $ 18 $ 19 Latin America 59 58 66 North America 51 50 50 Depreciation, Amortization and Cost of Timber Harvested $ 125 $ 126 $ 135
Schedule of External Net Sales	External Net Sales (a) In millions 2022 2021 2020 United States $ 2,173 $ 1,718 $ 1,490 Brazil 1,008 734 576 Europe 501 366 297 Americas, other than United States and Brazil 15 52 56 Corporate and Intersegment Sales (69) (42) (34) Net Sales $ 3,628 $ 2,828 $ 2,385 (a) Net sales are attributed to countries based on the location of the seller.
Schedule of Information by Long-lived Assets	Long-Lived Assets In millions as of December 31 2022 2021 United States $ 436 $ 413 Brazil 635 546 Europe 68 83 Long-Lived Assets $ 1,139 $ 1,042

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Net transfers (to) from Parent are included within Parent company investment on the consolidated and combined balance sheets and statements of equity. The components of the net transfers (to) from International Paper are as follows: In millions 2022 2021 2020 General financing activities $ — $ (661) $ (494) Corporate allocations — 112 154 Stock-based compensation — 10 15 Final spin-off adjustments — (28) — Total net transfers (to) from Parent $ — $ (567) $ (325)

BACKGROUND AND SUMMARY OF BUS_2

BACKGROUND AND SUMMARY OF BUSINESS (Details) $ in Millions		12 Months Ended
	Sep. 29, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 term_loan	Oct. 01, 2021	Sep. 30, 2021 USD ($) term_loan
Schedule of Equity Method Investments [Line Items]
General corporate expenses		$ 119	$ 169
Long-term debt						$ 1,500
Number of term loans | term_loan				2		2
Seven Percent Senior Notes Due 2029 | Senior Notes
Schedule of Equity Method Investments [Line Items]
Debt Instrument, interest rate, stated percentage				7%		7%
International Paper | Sylvamo Corporation
Schedule of Equity Method Investments [Line Items]
Ownership percentage by parent					19.90%
International Paper
Schedule of Equity Method Investments [Line Items]
Spinoff transaction, common stock distributed, percentage					80.10%
International Paper | Special Payment
Schedule of Equity Method Investments [Line Items]
Payment related to letter agreement	$ 1,500

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from External Customer [Line Items]
Net Sales	$ 3,628	$ 2,828	$ 2,385
Contract liabilities		1
Europe
Revenue from External Customer [Line Items]
Net Sales	501	348	271
Latin America
Revenue from External Customer [Line Items]
Net Sales	954	769	632
North America
Revenue from External Customer [Line Items]
Net Sales	2,173	1,711	1,482
Uncoated Papers | Europe
Revenue from External Customer [Line Items]
Net Sales	396	271	211
Uncoated Papers | Latin America
Revenue from External Customer [Line Items]
Net Sales	954	732	579
Uncoated Papers | North America
Revenue from External Customer [Line Items]
Net Sales	2,091	1,643	1,428
Market Pulp | Europe
Revenue from External Customer [Line Items]
Net Sales	105	77	60
Market Pulp | Latin America
Revenue from External Customer [Line Items]
Net Sales	0	37	53
Market Pulp | North America
Revenue from External Customer [Line Items]
Net Sales	$ 82	$ 68	$ 54

OTHER COMPREHENSIVE INCOME - Ch

OTHER COMPREHENSIVE INCOME - Changes In Accumulated Other Comprehensive Income (Loss) (“AOCI”), Net Of Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 182	$ 2,112	$ 2,517
Net transfers (to) from Parent		(567)	(325)
Amounts reclassified from accumulated other comprehensive income		0
Disposal of business	375
Balance at end of period	678	182	2,112
Total Accumulated Other Comprehensive Income (Loss) at End of Period	678	182	2,112
Accumulated  Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,801)	(1,480)	(1,229)
Net transfers (to) from Parent		(143)
Disposal of business	375	0	0
Balance at end of period	(1,338)	(1,801)	(1,480)
Total Accumulated Other Comprehensive Income (Loss) at End of Period	(1,338)	(1,801)	(1,480)
Defined Benefit Pension and Postretirement Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(80)	(48)	(44)
Other comprehensive income (loss) before reclassifications	4	(3)	(5)
Net transfers (to) from Parent	0	(30)	0
Amounts reclassified from accumulated other comprehensive income	0	1	1
Balance at end of period	(76)	(80)	(48)
Total Accumulated Other Comprehensive Income (Loss) at End of Period	(76)	(80)	(48)
Change in Cumulative Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,719)	(1,433)	(1,187)
Other comprehensive income (loss) before reclassifications	56	(173)	(246)
Net transfers (to) from Parent	0	(113)	0
Balance at end of period	(1,288)	(1,719)	(1,433)
Total Accumulated Other Comprehensive Income (Loss) at End of Period	(1,288)	(1,719)	(1,433)
Net Gains and Losses on Cash Flow Hedging Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(2)	1	2
Other comprehensive income (loss) before reclassifications	41	(2)	(25)
Amounts reclassified from accumulated other comprehensive income	(13)	(1)	24
Balance at end of period	26	(2)	1
Total Accumulated Other Comprehensive Income (Loss) at End of Period	$ 26	$ (2)	$ 1

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	Dec. 31, 2022	Dec. 31, 2021	Oct. 01, 2021
Earnings Per Share [Abstract]
Common shares outstanding (in shares)	42,600,000	43,900,000	43,949,277

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income from continuing operations	$ 336	$ 227	$ 87
Weighted average common shares outstanding	43.9	44	44
Effect of dilutive securities	0.5	0	0
Weighted average common shares outstanding - assuming dilution	44.4	44	44
Income (Loss) from Continuing Operations, Per Basic Share	$ 7.65	$ 5.16	$ 1.97
Income (Loss) from Continuing Operations, Per Diluted Share	$ 7.57	$ 5.16	$ 1.97

ACQUISITIONS Table (Details)

ACQUISITIONS Table (Details) - USD ($) $ in Millions	Jan. 02, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 128	$ 122	$ 133
Nymolla | Subsequent Event
Business Acquisition [Line Items]
Assets	$ 190
Goodwill	46
Less: Liabilities assumed	(76)
Net assets acquired	$ 160

ACQUISITIONS Narrative (Details

ACQUISITIONS Narrative (Details) - Nymolla	3 Months Ended
	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 02, 2023 paperMachines shortTons
Foreign Exchange Forward
Business Acquisition [Line Items]
Gain (Loss) on Hedging Activity | $			$ 10,000,000
Subsequent Event
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	€ 150,000,000	$ 160,000,000
Capacity, Short Tons | shortTons				500,000
Paper Machines | paperMachines				2

DIVESTITURE AND IMPAIRMENT OF_3

DIVESTITURE AND IMPAIRMENT OF BUSINESS - Consolidated Statement of Operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Selling and administrative expenses	$ 325,000,000	$ 207,000,000	$ 202,000,000
Discontinued Operations, Held-for-sale | Russian Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
NET SALES	518,000,000	674,000,000	624,000,000
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)	425,000,000	518,000,000	493,000,000
Selling and administrative expenses	10,000,000	6,000,000	7,000,000
Depreciation, amortization and cost of timber harvested	4,000,000	17,000,000	19,000,000
Taxes other than payroll and income taxes	1,000,000	2,000,000	2,000,000
Impairment of business	296,000,000	0	0
Interest expense (income), net	(3,000,000)	(1,000,000)	0
INCOME BEFORE INCOME TAXES	(215,000,000)	132,000,000	103,000,000
Income tax provision	3,000,000	28,000,000	20,000,000
DISCONTINUED OPERATIONS, NET OF TAXES	$ (218,000,000)	$ 104,000,000	$ 83,000,000

DIVESTITURE AND IMPAIRMENT OF_4

DIVESTITURE AND IMPAIRMENT OF BUSINESS - Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current Assets Held for Sale	$ 0	$ 179
Long-Term Assets Held for Sale	0	141
Current Liabilities Held for Sale	0	91
Long-Term Liabilities Held for Sale	$ 0	13
Discontinued Operations, Held-for-sale | Russian Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and temporary investments		21
Accounts and notes receivable		88
Contract assets		3
Inventories		63
Other current assets		4
Current Assets Held for Sale		179
Plants, Properties and Equipment		121
Goodwill		10
Right of Use Assets		1
Deferred Charges and Other Assets		9
Long-Term Assets Held for Sale		141
Notes payable and current maturities of long-term debt		1
Accounts payable		58
Accrued payroll and benefits		3
Other current liabilities		29
Current Liabilities Held for Sale		91
Long-Term Debt		1
Other Liabilities		12
Long-Term Liabilities Held for Sale		$ 13

DIVESTITURE AND IMPAIRMENT OF_5

DIVESTITURE AND IMPAIRMENT OF BUSINESS - Consolidated Statement of Cash flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
CASH PROVIDED BY OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	$ 20	$ 126	$ 114
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	(5)	14	(11)
Discontinued Operations, Held-for-sale | Russian Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
CASH PROVIDED BY OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	20	126	114
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	(5)	14	(11)
Capital Expenditure, Discontinued Operations	$ 5	$ 7	$ 9

DIVESTITURE AND IMPAIRMENT OF_6

DIVESTITURE AND IMPAIRMENT OF BUSINESS (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal of business		$ 375
Accumulated  Other Comprehensive Loss
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal of business		375	$ 0	$ 0
RUSSIAN FEDERATION
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses	$ 420
Foreign Exchange Costs and Transaction Fees	35
Proceeds from the Sale of Business Net of Foreign Currency Exchange and Transaction Fees	385
Cash Divested from Deconsolidation	$ 61
Asset Impairment Charges		68
Asset Impairment Charge, Net of Tax		57
Foreign Currency Transaction Loss, before Tax		228
Foreign Currency Transaction Loss, After Tax		228
RUSSIAN FEDERATION | Accumulated  Other Comprehensive Loss
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal of business		$ 375

SUPPLEMENTARY FINANCIAL STATE_3

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Temporary Investments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Short-term Investments	$ 80	$ 64

SUPPLEMENTARY FINANCIAL STATE_4

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Schedule of Accounts and Notes Receivable, Net (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Trade	$ 430	$ 391
Notes and other	20	11
Total	$ 450	$ 402

SUPPLEMENTARY FINANCIAL STATE_5

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Expected Credit Losses (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allowance for expected credit losses	$ 20	$ 19

SUPPLEMENTARY FINANCIAL STATE_6

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 40	$ 37
Finished paper and pulp products	226	164
Operating supplies	78	69
Other	20	9
Total	$ 364	279
Inventory, LIFO reserve percentage	71%
Last-in, first-out inventory reserve	$ 54	$ 43

SUPPLEMENTARY FINANCIAL STATE_7

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Plants, Property and Equipment, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Capital leases	$ 37	$ 37
Gross cost	4,412	4,252
Less: Accumulated depreciation	3,595	3,488
Plants, Properties and Equipment, net	817	764
Non-cash additions	36	6	$ 8
Depreciation expense	104	107	$ 121
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	8	9
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 361	351
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Annual straight-line depreciable lives	20 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Annual straight-line depreciable lives	40 years
Machinery
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 3,903	3,827
Machinery | Minimum
Property, Plant and Equipment [Line Items]
Annual straight-line depreciable lives	3 years
Machinery | Maximum
Property, Plant and Equipment [Line Items]
Annual straight-line depreciable lives	20 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 103	$ 28

SUPPLEMENTARY FINANCIAL STATE_8

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest payment	$ 63	$ 10	$ 1
Interest expense (a)	80	32	4
Interest income	(8)	(32)	(8)
Capitalized interest costs	$ (3)	$ (1)	$ 0

SUPPLEMENTARY FINANCIAL STATE_9

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Asset retirement obligations	$ 26	$ 26

LEASES - Narrative (Details)

LEASES - Narrative (Details) - Maximum	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	15 years
Finance lease, remaining lease term	15 years

LEASES - Components of lease ex

LEASES - Components of lease expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease costs	$ 18	$ 9	$ 8
Variable lease costs	28	20	16
Short-term lease costs	7	7	1
Finance lease cost
Amortization of right-of-use assets	4	3	2
Interest on lease liabilities	1	1	1
Total lease cost, net	$ 58	$ 40	$ 28

LEASES - Balance Sheet Componen

LEASES - Balance Sheet Components (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Operating lease assets	$ 35	$ 40
Finance lease assets	24	27
Total leased assets	59	67
Current
Operating	13	15
Finance	3	3
Noncurrent
Operating	28	25
Finance	14	17
Total lease liabilities	$ 58	$ 60
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Plants, Properties and Equipment, net	Plants, Properties and Equipment, net
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Notes payable and current maturities of long-term debt	Notes payable and current maturities of long-term debt
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities	Other Liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation	Long-Term Debt and Lease Obligation
Finance lease, accumulated amortization	$ 13	$ 11

LEASES - Lease term and discoun

LEASES - Lease term and discount rate (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating leases, weighted average remaining lease term (years)	5 years 9 months 18 days	3 years 6 months
Finance leases, weighted average remaining lease term (years)	7 years 6 months	7 years 4 months 24 days
Operating leases, weighted average discount rate (Percent)	2.84%	1.30%
Finance leases, weighted average discount rate (Percent)	3.90%	3.31%

LEASES - Supplemental cash flow

LEASES - Supplemental cash flow information related to leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating cash flows related to operating leases	$ 21	$ 11
Operating cash flows related to financing leases	1	1
Financing cash flows related to finance leases	5	3
Operating leases	14	32
Finance leases	$ 0	$ 1

LEASES - Maturity of lease liab

LEASES - Maturity of lease liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
2023	$ 14
2024	10
2025	5
2026	3
2027	2
Thereafter	11
Total lease payments	45
Less: imputed interest	4
Present value of lease liabilities	41
Financing Leases
2023	3
2024	2
2025	2
2026	2
2027	2
Thereafter	11
Total lease payments	22
Less: imputed interest	5
Finance lease cost	17
Total
2023	17
2024	12
2025	7
2026	5
2027	4
Thereafter	22
Total lease payments	67
Less: imputed interest	9
Total lease liabilities	$ 58	$ 60

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES - Changes in the Goodwill Balance as Allocated to Each Business Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Goodwill gross beginning balance	$ 123,000,000	$ 134,000,000
Accumulated impairment loss, beginning balance	(1,000,000)	(1,000,000)
Goodwill, beginning balance	122,000,000	133,000,000
Currency translation and other	6,000,000	(11,000,000)
Goodwill additions/reductions	0	0
Accumulated impairment loss additions/reductions	0	0	$ 0
Goodwill gross ending balance	129,000,000	123,000,000	134,000,000
Accumulated impairment loss, ending balance	(1,000,000)	(1,000,000)	(1,000,000)
Goodwill, ending balance	128,000,000	122,000,000	133,000,000
Europe
Goodwill [Roll Forward]
Goodwill gross beginning balance	11,000,000	13,000,000
Accumulated impairment loss, beginning balance	(1,000,000)	(1,000,000)
Goodwill, beginning balance	10,000,000	12,000,000
Currency translation and other	0	(2,000,000)
Goodwill additions/reductions	0	0
Accumulated impairment loss additions/reductions	0	0
Goodwill gross ending balance	11,000,000	11,000,000	13,000,000
Accumulated impairment loss, ending balance	(1,000,000)	(1,000,000)	(1,000,000)
Goodwill, ending balance	10,000,000	10,000,000	12,000,000
Latin America
Goodwill [Roll Forward]
Goodwill gross beginning balance	112,000,000	121,000,000
Accumulated impairment loss, beginning balance	0	0
Goodwill, beginning balance	112,000,000	121,000,000
Currency translation and other	6,000,000	(9,000,000)
Goodwill additions/reductions	0	0
Accumulated impairment loss additions/reductions	0	0
Goodwill gross ending balance	118,000,000	112,000,000	121,000,000
Accumulated impairment loss, ending balance	0	0	0
Goodwill, ending balance	118,000,000	112,000,000	121,000,000
North America
Goodwill [Roll Forward]
Goodwill gross beginning balance	0	0
Accumulated impairment loss, beginning balance	0	0
Goodwill, beginning balance	0	0
Currency translation and other	0	0
Goodwill additions/reductions	0	0
Accumulated impairment loss additions/reductions	0	0
Goodwill gross ending balance	0	0	0
Accumulated impairment loss, ending balance	0	0	0
Goodwill, ending balance	$ 0	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES - Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 63	$ 63
Accumulated Amortization	(56)	(54)
Net Intangible Assets	7	9
Customer relationships and lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	56	56
Accumulated Amortization	(50)	(48)
Net Intangible Assets	6	8
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3	3
Accumulated Amortization	(3)	(2)
Net Intangible Assets	0	1
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4	4
Accumulated Amortization	(3)	(4)
Net Intangible Assets	$ 1	$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES - Amortization Expense Related to Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangible assets	$ 2	$ 2	$ 2

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLES - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 2
2024	2
2025	2
2026	1
Thereafter	$ 0

INCOME TAXES - Income (loss) be

INCOME TAXES - Income (loss) before income taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S.	$ 176	$ 80	$ 10
Non-U.S.	291	248	85
Income from continuing operations before income taxes	$ 467	$ 328	$ 95

INCOME TAXES - Income tax provi

INCOME TAXES - Income tax provision (benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current tax provision
U.S. federal	$ 56	$ 26	$ (4)
U.S. state and local	15	5	2
Non-U.S.	67	76	59
Total current income tax expense (benefit)	138	107	57
Deferred tax provision
U.S. federal	(11)	(3)	(4)
U.S. state and local	(1)	(1)	(1)
Non-U.S.	5	(2)	(44)
Total deferred income tax expense (benefit)	(7)	(6)	(49)
Income tax provision	$ 131	$ 101	$ 8

INCOME TAXES - Reconciliation i

INCOME TAXES - Reconciliation items from U.S. statutory income tax rate to the effective tax rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income from continuing operations before income taxes	$ 467	$ 328	$ 95
Statutory U.S. income tax rate	21%	21%	21%
Income taxes using the statutory U.S. income tax rate	$ 98	$ 69	$ 20
State and local income taxes	11	5	1
Impact of rate differential on non-U.S. permanent differences and earnings	11	27	(2)
Tax audits	0	0	(10)
U.S. tax on non-U.S. earnings (GILTI and Subpart F)	11	0	1
Other, net	0	0	(2)
Income tax provision	$ 131	$ 101	$ 8
Effective income tax rate	28%	31%	8%

INCOME TAXES - Components of de

INCOME TAXES - Components of deferred tax assets and liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax assets:
Net operating and capital loss carryforwards	$ 21	$ 22
Accrued payroll and benefits	31	25
Lease liabilities	7	6
Tax credits	24	4
Other	30	38
Gross deferred income tax assets	113	95
Less: valuation allowance	(32)	(9)
Net deferred income tax asset	81	86
Deferred income tax liabilities:
Intangibles	(44)	(37)
Right of use assets	(6)	(6)
Deferred foreign income	(50)	(40)
Plants, properties and equipment	(84)	(92)
Forestlands	(48)	(45)
Gross deferred income tax liabilities	(232)	(220)
Net deferred income tax liability	$ (151)	$ (134)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Examination [Line Items]
Statutory U.S. income tax rate		21%	21%	21%
Valuation allowance	$ 32,000	$ 32,000	$ 9,000
Change in equity related to the spin-off		(3,000)
Income tax payments, net of refunds	133,000
Unrecognized tax benefits	4,000	4,000	3,000	$ 18,000
Liability for interest	$ 1,000	1,000	2,000	2,000
Accrued interest			$ 1,000	$ 0
Income tax examination, estimate of possible loss		111,000
Income tax examination, penalties and interest expense		$ 361,000
Income tax examination, tax liabilities payable, percentage	40%	40%
Income tax examination, tax liability, threshold	$ 300,000	$ 300,000
Retained Earnings
Income Tax Examination [Line Items]
Change in equity related to the spin-off		$ (3,000)
International Paper
Income Tax Examination [Line Items]
Income tax examination, tax liabilities payable, percentage	60%	60%

INCOME TAXES - Unrecognized tax

INCOME TAXES - Unrecognized tax benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits	$ (3)	$ (18)	$ (28)
(Additions) reductions for tax positions related to current year	(1)	(2)	(1)
Reductions for tax positions related to prior years	0	0	11
Transfer of tax positions related to prior years to Parent	0	17	0
Unrecognized Tax Benefits	$ (4)	$ (3)	$ (18)

INCOME TAXES - Net operating lo

INCOME TAXES - Net operating loss and income tax credit carryforwards (Details) $ in Millions	Dec. 31, 2022 USD ($)
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	$ 45
Less: valuation allowance	(32)
Total, net	(13)
Non-US
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	21
U.S. and Non-U.S.
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	24
2023 Through 2032
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	8
Less: valuation allowance	(8)
Total, net	0
2023 Through 2032 | U.S. and Non-U.S.
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	0
2023 Through 2032 | Non-US
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	8
Indefinite
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	37
Less: valuation allowance	(24)
Total, net	13
Indefinite | Non-US
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	13
Indefinite | U.S. and Non-U.S.
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	$ 24

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details)	12 Months Ended
	Dec. 31, 2022
Minimum
Site Contingency [Line Items]
Expected timings for resolution in open market term	1 year
Maximum
Site Contingency [Line Items]
Expected timings for resolution in open market term	10 years

LONG-TERM DEBT - Summary of Lon

LONG-TERM DEBT - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Less: current portion		$ (29)	$ (19)
Long-Term Debt		1,003	1,357
Other Long-Term Debt
Debt Instrument [Line Items]
Long-term debt		17	20
Term Loan F Due 2027 | Secured Debt
Debt Instrument [Line Items]
Long-term debt		496	512
Unamortized debt issuance costs		4	5
Term Loan B Due 2028 | Secured Debt
Debt Instrument [Line Items]
Long-term debt		0	401
Unamortized debt issuance costs		5	4
Seven Percent Senior Notes Due 2029 | Senior Notes
Debt Instrument [Line Items]
Long-term debt		444	443
Unamortized debt issuance costs		6	7
Receivables Securitization Program
Debt Instrument [Line Items]
Long-term debt		$ 75	$ 0
Receivables Securitization Program | Subsequent Event
Debt Instrument [Line Items]
Repayments of Debt	$ 30

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) term_loan	Dec. 31, 2021 USD ($)	Sep. 30, 2021 term_loan	Aug. 16, 2021 USD ($)
Debt Instrument [Line Items]
Number of term loans | term_loan	2		2
Fair market value of total debt	$ 1,000,000,000
2022	29,000,000
2023	28,000,000
2024	103,000,000
2025	28,000,000
2026	399,000,000
Thereafter	461,000,000
Interest Rate Swap
Debt Instrument [Line Items]
Notional amount	400,000,000
Interest Rate Fair Value Hedge Asset at Fair Value	$ 30,000,000
Minimum | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate per notional amount	1.05%
Maximum | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate per notional amount	1.40%
Receivables Securitization Program
Debt Instrument [Line Items]
Total borrowing capacity	$ 120,000,000
Long-term Line of Credit	$ 75,000,000
Line of Credit Facility, Interest Rate at Period End	5.19%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Minimum consolidated interest charge coverage ratio	3.75
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total borrowing capacity				$ 450,000,000
Long-term Line of Credit	$ 0	$ 20,000,000
Letters of Credit Outstanding, Amount	$ 24,000,000	10,000,000
Line of Credit Facility, Remaining Borrowing Capacity		$ 420,000,000		$ 426,000,000
Debt Instrument, interest rate, stated percentage	1.50%
Line of Credit | Revolving Credit Facility | Ratio Below 2.50
Debt Instrument [Line Items]
Income tax examination, maximum annual restricted payments	$ 50,000,000
Debt instrument, consolidated total leverage ratio	2.50
Line of Credit | Revolving Credit Facility | Ratio Below 2.50 | Ratio Equal to Or Above 2.00
Debt Instrument [Line Items]
Income tax examination, maximum annual restricted payments	$ 60,000,000
Line of Credit | Revolving Credit Facility | Ratio Below 2.00
Debt Instrument [Line Items]
Income tax examination, maximum annual restricted payments	$ 75,000,000
Debt instrument, consolidated total leverage ratio	2
Income Tax Examination, Maximum Annual Restricted Payments Increase	$ 90,000,000
Debt Instrument, Consolidated Total Leverage Ratio, Minimum	2
Line of Credit | Revolving Credit Facility | Maximum Deposit Amount
Debt Instrument [Line Items]
Income Tax Examination, Deposit Amount With Credit Agreement Agent to Eliminate Maximum Annual Restricted Payments	$ 120,000,000
Line of Credit | Revolving Credit Facility | Minimum Deposit Amount
Debt Instrument [Line Items]
Income Tax Examination, Deposit Amount With Credit Agreement Agent to Eliminate Maximum Annual Restricted Payments	60,000,000
Line of Credit | Revolving Credit Facility | Available Liquidity
Debt Instrument [Line Items]
Income Tax Examination, Available Liquidity Required to Eliminate Limits on Maximum Annual Restricted Payments	$ 225,000,000
Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0%
Senior Notes | Seven Percent Senior Notes Due 2029
Debt Instrument [Line Items]
Debt Instrument, interest rate, stated percentage	7%		7%
Income Tax Examination, Exception to Limits, Maximum Repurchase Amount	$ 150,000,000
Secured Debt | Term Loan B Due 2028
Debt Instrument [Line Items]
Payment for Debt Extinguishment or Debt Prepayment Cost	$ 5,000,000
Secured Debt | Term Loan F Notes Due 2027
Debt Instrument [Line Items]
Debt Instrument, interest rate, stated percentage	1.75%
Debt instrument, patronage distributions, percentage	0.90%
Debt instrument, patronage distributions, cash rebate, percentage	0.70%
Debt instrument, effective interest rate	5.23%	1.05%
Minimum consolidated interest charge coverage ratio	3.75
Secured Debt | Term Loan F Notes Due 2027 | Ratio Below 2.50
Debt Instrument [Line Items]
Debt instrument, consolidated total leverage ratio	2.50
Debt Instrument, Consolidated Total Leverage Ratio, Minimum	2
Secured Debt | Term Loan F Notes Due 2027 | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0%
Secured Debt | Term Loan F Due 2027 | Ratio Below 2.50
Debt Instrument [Line Items]
Income tax examination, maximum annual restricted payments	$ 50,000,000
Secured Debt | Term Loan F Due 2027 | Ratio Below 2.50 | Ratio Equal to Or Above 2.00
Debt Instrument [Line Items]
Income tax examination, maximum annual restricted payments	60,000,000
Secured Debt | Term Loan F Due 2027 | Ratio Below 2.00
Debt Instrument [Line Items]
Income tax examination, maximum annual restricted payments	75,000,000
Income Tax Examination, Maximum Annual Restricted Payments Increase	90,000,000
Secured Debt | Term Loan F Due 2027 | Maximum Deposit Amount
Debt Instrument [Line Items]
Income Tax Examination, Deposit Amount With Credit Agreement Agent to Eliminate Maximum Annual Restricted Payments	120,000,000
Secured Debt | Term Loan F Due 2027 | Minimum Deposit Amount
Debt Instrument [Line Items]
Income Tax Examination, Deposit Amount With Credit Agreement Agent to Eliminate Maximum Annual Restricted Payments	60,000,000
Secured Debt | Term Loan F Due 2027 | Available Liquidity
Debt Instrument [Line Items]
Income Tax Examination, Available Liquidity Required to Eliminate Limits on Maximum Annual Restricted Payments	$ 225,000,000
Secured Debt | Revolving Credit Facility | Ratio Below 2.00
Debt Instrument [Line Items]
Debt instrument, consolidated total leverage ratio	2

RETIREMENT AND POSTRETIREMENT_3

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Compensation And Non-Qualifie Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation receivables	$ 24
Deferred compensation savings plan liability	16
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	307	$ 462	$ 171
Fair value of plan assets	286	431	$ 171
Defined Benefit Plan, Accumulated Benefit Obligation	299	446
Funded (unfunded) status of plan	(21)	(31)
Pension Plan | International Plan
Defined Benefit Plan Disclosure [Line Items]
Funded (unfunded) status of plan	(7)	(8)
U.S. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 176	251
U.S. Pension Plan | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation, percentage	23%
U.S. Pension Plan | Debt securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation, percentage	75%
U.S. Pension Plan | Other investments
Defined Benefit Plan Disclosure [Line Items]
Asset allocation, percentage	2%
U.S. Pension Plan | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Remaining Unfunded Commitment	$ 11
U.K. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 84	$ 155
U.K. Pension Plan | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation, percentage	48%	48%
U.K. Pension Plan | Debt securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation, percentage	52%	52%
U.K. Pension Plan | Private equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 9	$ 0
Immaterial Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 26	$ 25

RETIREMENT AND POSTRETIREMENT_4

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Obligations and Funded Status (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in projected benefit obligation:
Benefit obligation, January 1	$ 462	$ 171
Pension plan transfer from Parent	0	287
Service cost	6	2	$ 1
Interest cost	13	6	4
Actuarial loss (gain)	(151)	0
Benefits paid	(7)	(5)
Expenses paid from assets	(1)	(1)
Effect of foreign currency exchange rate movements	(15)	2
Benefit obligation, December 31	307	462	171
Change in plan assets:
Fair value of plan assets, January 1	431	171
Pension plan transfer from Parent	0	252
Actual return on plan assets	(126)	2
Company contributions	3	10
Benefits paid	(7)	(5)
Expenses paid from assets	(1)	(1)
Effect of foreign currency exchange rate movements	(14)	2
Fair value of plan assets, December 31	286	431	$ 171
Funded status, December 31	(21)	(31)
Amounts recognized in the consolidated balance sheets:
Non-current asset	8	8
Non-current liability	(29)	(39)
Liabilities	(21)	(31)
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):
Net prior service cost	2	2
Net actuarial loss	91	106
Amounts recognized in accumulated other comprehensive income	$ 93	$ 108

RETIREMENT AND POSTRETIREMENT_5

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Obligation and Asset Information (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 201	$ 279
Fair value of plan assets	180	254
Projected benefit obligation	209	293
Fair value of plan assets	$ 180	$ 254

RETIREMENT AND POSTRETIREMENT_6

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Summary of Net Benefit Costs (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6	$ 2	$ 1
Interest cost	13	6	4
Expected return on plan assets	(21)	(11)	(8)
Actuarial loss (gain)	4	2	1
Net periodic pension expense (benefit)	$ 2	$ (1)	$ (2)

RETIREMENT AND POSTRETIREMENT_7

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Assumptions Used to Determine Net Periodic Pension Cost (Details) - Pension Plan	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Actuarial assumptions used to determine benefit obligations as of December 31:
Discount rate	5.52%	2.79%	2.27%
Rate of compensation increase	3.36%	3.36%	3.54%
Actuarial assumptions used to determine net periodic pension cost for years ended December 31:
Discount rate	2.79%	2.79%	2.76%
Expected long-term rate of return on plan assets	5.18%	5.38%	4.84%
Rate of compensation increase	3.36%	2.85%	3.42%

RETIREMENT AND POSTRETIREMENT_8

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Defined Benefit Plan Assets by Category (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
U.S. Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 176	$ 251
U.S. Pension Plan | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	10	15
U.S. Pension Plan | Equities - developed markets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	41	62
U.S. Pension Plan | Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	7	23
U.S. Pension Plan | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	108	137
U.S. Pension Plan | Other fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	9	12
U.S. Pension Plan | Derivatives
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	2
U.S. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	17	39
U.S. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	10	15
U.S. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Equities - developed markets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.S. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	7	23
U.S. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.S. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Other fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.S. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Derivatives
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	1
U.S. Pension Plan | Significant Observable Inputs (Level 2)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	159	212
U.S. Pension Plan | Significant Observable Inputs (Level 2) | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.S. Pension Plan | Significant Observable Inputs (Level 2) | Equities - developed markets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	41	62
U.S. Pension Plan | Significant Observable Inputs (Level 2) | Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.S. Pension Plan | Significant Observable Inputs (Level 2) | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	108	137
U.S. Pension Plan | Significant Observable Inputs (Level 2) | Other fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	9	12
U.S. Pension Plan | Significant Observable Inputs (Level 2) | Derivatives
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	1
U.K. Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	84	155
U.K. Pension Plan | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	2	2
U.K. Pension Plan | Equities - emerging
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	8
U.K. Pension Plan | Diversified growth funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	6	33
U.K. Pension Plan | Multi-asset credit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	8	23
U.K. Pension Plan | Absolute return fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	4	12
U.K. Pension Plan | Liability driven investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	30	40
U.K. Pension Plan | Cash flow driven investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	25	37
U.K. Pension Plan | Private equity
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	9	0
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	2	2
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	2	2
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Equities - emerging
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Diversified growth funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Multi-asset credit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Absolute return fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Liability driven investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Cash flow driven investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Private equity
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.K. Pension Plan | Significant Observable Inputs (Level 2)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	73	153
U.K. Pension Plan | Significant Observable Inputs (Level 2) | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
U.K. Pension Plan | Significant Observable Inputs (Level 2) | Equities - emerging
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	8
U.K. Pension Plan | Significant Observable Inputs (Level 2) | Diversified growth funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	6	33
U.K. Pension Plan | Significant Observable Inputs (Level 2) | Multi-asset credit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	8	23
U.K. Pension Plan | Significant Observable Inputs (Level 2) | Absolute return fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	4	12
U.K. Pension Plan | Significant Observable Inputs (Level 2) | Liability driven investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	30	40
U.K. Pension Plan | Significant Observable Inputs (Level 2) | Cash flow driven investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	25	37
U.K. Pension Plan | Significant Observable Inputs (Level 2) | Private equity
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 0	$ 0

RETIREMENT AND POSTRETIREMENT_9

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Expected Future Benefit Payments (Details) - Pension Plan $ in Millions	Dec. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2023	$ 7
2024	8
2025	10
2026	13
2027	14
2028-2032	$ 103

INCENTIVE PLANS - Narrative (De

INCENTIVE PLANS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum shares reserve for the grant	4,410,725	4,410,725
Shares remain available for future grant	3,235,868	3,235,868
Stock-based compensation cost	$ 20	$ 16	$ 14	$ 15
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year 7 months 6 days

INCENTIVE PLANS - Summary of Re

INCENTIVE PLANS - Summary of Restricted Stock Unit Activity (Details) - $ / shares	3 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022
Restricted Stock Units (RSUs)
Shares
Beginning balance, outstanding (in shares)		0	664,569
Granted (in shares)	258,518	664,569
Shares issued (in shares)		0	(236,086)
Forfeited (in shares)		0	(36,272)
Ending balance, outstanding, (in shares)	650,729	664,569	650,729
Weighted Average Grant Date Fair Value
Beginning balance, outstanding (in dollars per share)		$ 0	$ 28.51
Granted (in dollars per share)		28.51	39.23
Shares issued (in dollars per share)		0	28.67
Forfeited (in dollars per share)		0	31.36
Ending balance, outstanding (in dollars per share)	$ 32.55	$ 28.51	$ 32.55
Performance Based Restricted Stock Units
Shares
Beginning balance, outstanding (in shares)		0	0
Granted (in shares)	321,271	0
Shares issued (in shares)		0	0
Forfeited (in shares)		0	(16,675)
Ending balance, outstanding, (in shares)	304,596	0	304,596
Weighted Average Grant Date Fair Value
Beginning balance, outstanding (in dollars per share)		$ 0	$ 0
Granted (in dollars per share)		0	41.47
Shares issued (in dollars per share)		0	0
Forfeited (in dollars per share)		0	41.47
Ending balance, outstanding (in dollars per share)	$ 41.47	$ 0	$ 41.47

INCENTIVE PLANS - Summary of St

INCENTIVE PLANS - Summary of Stock Based Compensation Cost (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate		49.64%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate		1.66%
Total stock-based compensation expense (included in selling and administrative expense)	$ 20	$ 16	$ 14	$ 15
Income tax benefit related to stock-based compensation	$ 5		$ 3	$ 1

FINANCIAL INFORMATION BY BUSI_3

FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA - Schedule of Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net Sales	$ 3,628	$ 2,828	$ 2,385
Income from continuing operations before income taxes	467	328	95
Interest expense (income), net	69	(1)	(4)
Other special items, net	5	(34)	(1)
Assets	2,710	2,597
Capital spending	149	69	66
Depreciation, amortization and cost of timber harvested	125	126	135
Long-Lived Assets	1,139	1,042
United States
Segment Reporting Information [Line Items]
Long-Lived Assets	436	413
Brazil
Segment Reporting Information [Line Items]
Long-Lived Assets	635	546
Europe
Segment Reporting Information [Line Items]
Long-Lived Assets	68	83
Europe
Segment Reporting Information [Line Items]
Net Sales	501	348	271
Other special items, net	1	0	0
Capital spending	7	6	6
Depreciation, amortization and cost of timber harvested	15	18	19
Latin America
Segment Reporting Information [Line Items]
Net Sales	954	769	632
Other special items, net	0	(35)	(2)
Capital spending	76	39	45
Depreciation, amortization and cost of timber harvested	59	58	66
North America
Segment Reporting Information [Line Items]
Net Sales	2,173	1,711	1,482
Other special items, net	4	1	1
Capital spending	66	24	15
Depreciation, amortization and cost of timber harvested	51	50	50
Operating Segments
Segment Reporting Information [Line Items]
Business Segment Operating Profit	553	298	90
Operating Segments | Europe
Segment Reporting Information [Line Items]
Net Sales	501	366	297
Business Segment Operating Profit	50	(29)	(34)
Assets	258	218
Operating Segments | Latin America
Segment Reporting Information [Line Items]
Net Sales	1,023	786	632
Business Segment Operating Profit	212	194	83
Assets	1,129	1,034
Operating Segments | North America
Segment Reporting Information [Line Items]
Net Sales	2,173	1,718	1,490
Business Segment Operating Profit	291	133	$ 41
Assets	$ 894	$ 868
Operating Segments | North America | Customer Concentration Risk | Revenue, Segment Benchmark
Segment Reporting Information [Line Items]
Concentration risk, percentage	13%	12%	14%
Corporate and Intersegment Sales
Segment Reporting Information [Line Items]
Net Sales	$ (69)	$ (42)	$ (34)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Interest expense (income), net	69	(1)	(4)
Other special items, net	5	(34)	(1)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Other special items, net	12	5	0
Assets	429	477
Reportable Geographical Components | United States
Segment Reporting Information [Line Items]
Net Sales	2,173	1,718	1,490
Reportable Geographical Components | Brazil
Segment Reporting Information [Line Items]
Net Sales	1,008	734	576
Reportable Geographical Components | Europe
Segment Reporting Information [Line Items]
Net Sales	501	366	297
Reportable Geographical Components | Americas, other than United States and Brazil
Segment Reporting Information [Line Items]
Net Sales	$ 15	$ 52	$ 56

FINANCIAL INFORMATION BY BUSI_4

FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA - Net Sales and Assets by Geographic Area (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 3,628	$ 2,828	$ 2,385
Long-Lived Assets	1,139	1,042
Corporate and Intersegment Sales
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	(69)	(42)	(34)
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	436	413
United States | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	2,173	1,718	1,490
Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	635	546
Brazil | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	1,008	734	576
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	68	83
Europe | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	501	366	297
Americas, other than United States and Brazil | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 15	$ 52	$ 56

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - Affiliated Entity - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2022	Dec. 31, 2022
Professional Services [Member]
Related Party Transaction [Line Items]
Related party receivable	$ 3
International Paper | Offtake Agreement
Related Party Transaction [Line Items]
Related party transaction, expenses from related party	133	$ 462
Accounts payable, related parties			$ 77
Payment period			6 months
International Paper | Fiber Purchase Agreement
Related Party Transaction [Line Items]
Related party transaction, expenses from related party	52	153
International Paper | Transition Services Agreement
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	7		$ 23
International Paper | Inventory Purchases [Member]
Related Party Transaction [Line Items]
Due to Related Parties, Current	$ 110
International Paper | Packaging
Related Party Transaction [Line Items]
Related party transaction, expenses from related party		$ 12

RELATED PARTY TRANSACTIONS Tabl

RELATED PARTY TRANSACTIONS Table (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Stockholders' Equity, Transfers From (To) Parent		$ (567)	$ (325)
International Paper | Affiliated Entity
Related Party Transaction [Line Items]
Stockholders' Equity, Transfers From (To) Parent	$ 0	(567)	(325)
International Paper | General financing activities | Affiliated Entity
Related Party Transaction [Line Items]
Stockholders' Equity, Transfers From (To) Parent	0	(661)	(494)
International Paper | Corporate allocations | Affiliated Entity
Related Party Transaction [Line Items]
Stockholders' Equity, Transfers From (To) Parent	0	112	154
International Paper | Stock-based compensation | Affiliated Entity
Related Party Transaction [Line Items]
Stockholders' Equity, Transfers From (To) Parent	0	10	15
International Paper | Final spin-off adjustments | Affiliated Entity
Related Party Transaction [Line Items]
Stockholders' Equity, Transfers From (To) Parent	$ 0	$ (28)	$ 0

Uncategorized Items - syl-20221

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]