Sylvamo (SLVM) 10-K 21 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 16, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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 Financial Statement Restatement Recovery Analysis [Flag]	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
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	true
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.
Document Financial Statement Error Correction [Flag]	true
Entity Public Float			$ 1,683,429,048
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		41,220,910

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
NET SALES	$ 3,721	$ 3,628	$ 2,828
COSTS AND EXPENSES
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)	2,809	2,619	2,143
Selling and administrative expenses	343	325	207
Depreciation, amortization and cost of timber harvested	143	125	126
Taxes other than payroll and income taxes	23	23	25
Interest expense (income), net	34	69	(1)
Income from continuing operations before income taxes	369	467	328
Income tax provision	116	131	101
Net income from continuing operations	253	336	227
Discontinued Operations, net of taxes	0	(218)	104
NET INCOME	$ 253	$ 118	$ 331
BASIC EARNINGS PER SHARE
Income (Loss) from Continuing Operations, Per Basic Share	$ 6.02	$ 7.65	$ 5.16
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0	(4.97)	2.37
Net earnings (loss) - basic (in dollars per share)	6.02	2.68	7.53
DILUTED EARNINGS PER SHARE
Income (Loss) from Continuing Operations, Per Diluted Share	5.93	7.57	5.16
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0	(4.91)	2.37
Net earnings (loss) - diluted (in dollars per share)	$ 5.93	$ 2.66	$ 7.53

CONSOLIDATED AND COMBINED STA_2

CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 253	$ 118	$ 331
Defined Benefit Pension and Postretirement Adjustments:
Amortization of pension and postretirement net loss	1	0	1
Pension and postretirement liability adjustments (less tax of $1, $1 and $0)	(2)	4	(3)
Change in cumulative foreign currency translation adjustment	91	56	(173)
Net gains/losses on cash flow hedging derivatives:
Net gains (losses) arising during the period (less tax of $10, $17 and $1)	19	41	(2)
Reclassification adjustment for (gains) losses included in net earnings (less tax of $12, $7 and $0)	(27)	(13)	(1)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	82	88	(178)
COMPREHENSIVE INCOME (LOSS)	$ 335	$ 206	$ 153

CONSOLIDATED AND COMBINED STA_3

CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Tax on pension and postretirement liability adjustments	$ 1	$ (1)	$ 0
Tax on net gains (losses) arising during period on cash flow hedges	(10)	(17)	1
Tax on reclassification adjustment for (gains) losses included in earnings on cash flow hedges	$ 12	$ 7	$ 0

CONSOLIDATED AND COMBINED BALAN

CONSOLIDATED AND COMBINED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and temporary investments	$ 220	$ 360
Restricted cash	60	0
Accounts and notes receivable (less allowances of $25 in 2023 and $20 in 2022)	428	450
Contract assets	27	30
Inventories	404	364
Other current assets	54	39
Total Current Assets	1,193	1,243
Plants, Properties and Equipment, net	1,002	817
Forestlands	364	322
Goodwill	139	128
Right of Use Assets	58	35
Deferred Charges and Other Assets	116	165
TOTAL ASSETS	2,872	2,710
Current Liabilities
Accounts payable	421	453
Notes payable and current maturities of long-term debt	28	29
Accrued payroll and benefits	63	81
Other current liabilities	183	165
Total Current Liabilities	695	728
Long-Term Debt	931	1,003
Deferred Income Taxes	189	183
Other Liabilities	156	118
Commitments and Contingent Liabilities (Note 13)
Equity
Common stock $1.00 par value, 200.0 shares authorized, 44.5 shares and 44.2 shares issued and 41.2 shares and 42.6 shares outstanding at December 31, 2023 and 2022, respectively	45	44
Paid-in capital	48	25
Retained earnings	2,222	2,029
Accumulated other comprehensive loss	(1,256)	(1,338)
Stockholders' Equity before Treasury Stock	1,059	760
Less: Common stock held in treasury, at cost, 3.3 shares and 1.6 shares at December 31, 2023 and December 31, 2022, respectively	(158)	(82)
Total Equity	901	678
TOTAL LIABILITIES AND EQUITY	$ 2,872	$ 2,710

CONSOLIDATED AND COMBINED BAL_2

CONSOLIDATED AND COMBINED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for expected credit losses	$ 25	$ 20
Common stock, par value (in dollars per share)	$ 1
Common stock, shares authorized (in shares)	200,000,000
Common stock, shares issued (in shares)	44,500,000	44,200,000
Common shares outstanding (in shares)	41,200,000	42,600,000
Treasury Stock, Common, Shares	3,300,000	1,600,000

CONSOLIDATED AND COMBINED STA_4

CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Net income from continuing operations	$ 253	$ 336	$ 227
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Depreciation, amortization and cost of timber harvested	143	125	126
Deferred income tax provision (benefit), net	0	(7)	(6)
Stock-based compensation	23	20	14
Changes in operating assets and liabilities and other
Accounts and notes receivable	104	(45)	(99)
Inventories	6	(99)	12
Accounts payable and accrued liabilities	(73)	48	196
Other	48	40	(47)
CASH PROVIDED BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS	504	418	423
CASH PROVIDED BY OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	0	20	126
CASH PROVIDED BY OPERATING ACTIVITIES	504	438	549
INVESTMENT ACTIVITIES
Invested in capital projects	(210)	(149)	(69)
Cash pool arrangements with Parent	0	0	181
Cash proceeds on disposal of business, net of cash divested	0	324	0
Acquisition of business	(167)	0	0
Other	0	10	1
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM CONTINUING OPERATIONS	(377)	185	113
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	0	(5)	14
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES	(377)	180	127
FINANCING ACTIVITIES
Net transfers from Parent	0	0	(456)
Special payment to Parent	0	0	(1,520)
Dividends paid	(57)	(10)	0
Issuance of debt	446	75	1,501
Reduction of debt	(526)	(450)	(129)
Repurchases of common stock	(70)	(80)	0
Other	(12)	(4)	16
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES FROM CONTINUING OPERATIONS	(219)	(469)	(588)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	0	(1)	(1)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	(219)	(470)	(589)
Effect of Exchange Rate Changes on Cash	12	32	(2)
Change in Cash Included in Assets Held for Sale	0	(21)	(4)
Change in Cash, Temporary Investments and Restricted Cash	(80)	201	89
Beginning of the period	360	159	70
End of the period	$ 280	$ 360	$ 159

CONSOLIDATED AND COMBINED STA_5

CONSOLIDATED AND COMBINED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Common Stock	Paid-In Capital	Retained Earnings	Parent Company Investment	Accumulated  Other Comprehensive Loss	Treasury Stock, Common	Treasury Stock, Common Treasury Stock, Common
Beginning balance (in shares) at Dec. 31, 2020		0
Balance at beginning 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				1,917	(1,917)
Stock Issued During Period, Shares, New Issues		44,000,000
Stock Issued During Period, Value, New Issues		$ (44)		(44)
Stock-based employee compensation	4		4
Comprehensive income (loss)	153			62	269	(178)
Ending balance (in shares) at Dec. 31, 2021		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]
Stock-based employee compensation	19		21				(2)
Disposal of business	375					375
Share repurchase	(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
Stock Issued During Period, Shares, New Issues		1,000,000
Stock-based employee compensation	$ 19	$ 1	23				(5)
Share repurchase	(71)							$ (71)
Dividends, Common Stock	(60)			(60)
Comprehensive income (loss)	$ 335			253		82
Ending balance (in shares) at Dec. 31, 2023	41,200,000	45,000,000
Balance at end of period at Dec. 31, 2023	$ 901	$ 45	$ 48	$ 2,222	$ 0	$ (1,256)	$ (158)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Dividends, Per Share, Declared	$ 1.4000

BACKGROUND AND SUMMARY OF BUSIN

BACKGROUND AND SUMMARY OF BUSINESS	12 Months Ended
	Dec. 31, 2023
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 year ended 2021 the Company was allocated approximately $119 million 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 this period 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. 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 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. All intracompany transactions have been eliminated. 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 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. 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. Acquisition of Nymölla On January 2, 2023, the Company completed the previously announced acquisition of Stora Enso’s uncoated freesheet paper mill in Nymölla, Sweden. Sylvamo accounted for the acquisition under ASC 805, “Business Combinations” and the Nymölla mill’s results of operations are included in Sylvamo’s consolidated financial statements from the date of acquisition. See Note 7 Acquisitions for further details.

BASIS OF CONSOLIDATION AND COMB

BASIS OF CONSOLIDATION AND COMBINATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
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 Revenue Recognition 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 tangible assets such as real and personal property and 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 Acquisitions 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). 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 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 Divestiture and Impairment of Business 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 Supplementa ry Financial Statement Info rmation for further details. RESTRICTED CASH Cash that is legally restricted from use is classified as restricted cash. See Note 9 Supplementary Financial Statement Information 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, first leg freight 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 Supplementary Financial Statement Info r m ation 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 Leases 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 Supplementary Financial Statement Information 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 11 Goodwill and Other Intangibles 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 11 Goodwill and Other Intangible s for further discussion. EMPLOYEE RETIREMENT BENEFITS The Company sponsors certain defined benefit pension and postretirement plans in Belgium, Brazil, France, Poland, the United Kingdom and the United States. The Company accounts for these plans using the single-employer method, with the net funded status of these plans recorded as an asset or liability in the consolidated balance sheets. See Note 15 Retirement and Postretirement Benefit Plans 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 12 Income Taxes for further discussion. TRANSLATION OF FINANCIAL STATEMENTS

RECENT ACCOUNTING DEVELOPMENTS

RECENT ACCOUNTING DEVELOPMENTS	12 Months Ended
	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING DEVELOPMENTS	RECENT ACCOUNTING DEVELOPMENTS RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Income Taxes In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This guidance requires a public entity to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. The guidance also requires all entities to disclose annually income taxes paid (net of refunds received) disaggregated by federal (national), state and foreign taxes and to disaggregate the information by jurisdiction based on a quantitative threshold. This guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted and this guidance should be applied prospectively but there is the option to apply it retrospectively. The Company plans to adopt the provisions of this guidance in conjunction with our Form 10-K for the annual period ending December 31, 2025. Pillar Two Directive The Organization for Economic Co-Operation and Development (“OECD”) has been working on a project to act to prevent what it refers to as base erosion and profit shifting (“BEPS”). Most recently, the OECD, through an association of almost 140 countries known as the “inclusive framework,” has announced a consensus to address, among other things, perceived challenges presented by global digital commerce (“Pillar 1”) and the perceived need for a minimum global effective tax rate of 15% (“Pillar 2”). On December 15, 2022, the European Union formally adopted the Pillar Two Directive, and a majority of EU member states have enacted the directive into domestic law as of December 31, 2023. Other countries are taking similar actions. We have evaluated the developments and do not anticipate any material impact on our financial position, results of operations, or cash flows. Segment Reporting In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This guidance requires a public entity to disclose for each reportable segment, on an interim and annual basis, the significant expense categories and amounts that are regularly provided to the chief operating decision-maker (“CODM”) and included in each reported measure of a segment’s profit or loss. Additionally, it requires a public entity to disclose the title and position of the individual or the name of the group or committee identified as the CODM. This guidance is effective for fiscal years beginning after December 31, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted and the guidance should be applied retrospectively to all periods presented in the financial statements, unless it is impracticable. The Company plans to adopt the provisions of this guidance in conjunction with our Form 10-K for the period ending December 31, 2024. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which was subsequently amended by ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of Sunset Date of Topic 848,“ issued in December 2022. Together this guidance provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. This guidance is effective upon issuance and generally can be applied through December 31, 2024. During the three months ended June 30, 2023, the Company transitioned its LIBOR-based debt arrangements and the related interest rate swaps from a reference rate of LIBOR to SOFR (“Standard Overnight Financing Rate”). See Note 14 Long-Term Debt for further details. The impact of the reference rate transition to the debt arrangements and the related interest rate swaps, along with the adoption of the provisions from this standard, did not have a material impact on our consolidated financial statements. At this time, the Company does not plan to enter into additional contracts using LIBOR as a reference rate.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2023
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 2023 2022 2021 Europe Uncoated Papers $ 733 $ 396 $ 271 Market Pulp 88 105 77 Europe 821 501 348 Latin America Uncoated Papers 885 887 713 Market Pulp (a) 64 67 56 Latin America 949 954 769 North America Uncoated Papers 1,891 2,091 1,643 Market Pulp 60 82 68 North America 1,951 2,173 1,711 Total $ 3,721 $ 3,628 $ 2,828 (a) Prior period amounts have been corrected to reflect market pulp sales. 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. Contract liabilities of $8 million are included in current liabilities in the accompanying consolidated balance sheets as of December 31, 2023. There were no contract liabilities included in current liabilities in the accompanying consolidated balance sheets as of December 31, 2022. 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, 2023
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 2023 2022 2021 Defined Benefit Pension and Postretirement Adjustments Balance at beginning of period $ (76) $ (80) $ (48) Other comprehensive income (loss) before reclassifications (2) 4 (3) Pension plan transfer from Parent — — (30) Amounts reclassified from accumulated other comprehensive income 1 — 1 Balance at end of period (77) (76) (80) Change in Cumulative Foreign Currency Translation Adjustments Balance at beginning of period (1,288) (1,719) (1,433) Transfer from Parent — — (113) Disposal of business — 375 — Other comprehensive income (loss) before reclassifications 91 56 (173) Balance at end of period (1,197) (1,288) (1,719) Net Gains and Losses on Cash Flow Hedging Derivatives Balance at beginning of period 26 (2) 1 Other comprehensive income (loss) before reclassifications 19 41 (2) Amounts reclassified from accumulated other comprehensive income (27) (13) (1) Balance at end of period 18 26 (2) Total Accumulated Other Comprehensive Income (Loss) at End of Period $ (1,256) $ (1,338) $ (1,801)

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2023
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 2023 2022 2021 Net income from continuing operations $ 253 $ 336 $ 227 Weighted average common shares outstanding 42.0 43.9 44.0 Effect of dilutive securities 0.7 0.5 — Weighted average common shares outstanding - assuming dilution 42.7 44.4 44.0 Earnings per share from continuing operations - basic $ 6.02 $ 7.65 $ 5.16 Earnings per share from continuing operations - diluted $ 5.93 $ 7.57 $ 5.16 Anti-dilutive shares (a) 0.3 0.2 —

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2023
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 €157 million (approximately $167 million) after post-close working capital adjustments. The integrated mill has the capacity to produce approximately 500,000 short tons of uncoated freesheet on two paper machines. Sylvamo accounted for the acquisition under ASC 805, “Business Combinations” and the Nymölla mill’s results of operations are included in Sylvamo’s consolidated financial statements from the date of acquisition. The following table summarizes the final allocation of the purchase price to the fair value assigned to assets and liabilities acquired as of January 2, 2023: In millions Accounts receivable $ 63 Inventory 67 Plants, properties and equipment 115 Other assets 2 Total assets acquired 247 Accounts payable 51 Other liabilities 29 Total liabilities assumed 80 Net assets acquired $ 167 In connection with the allocation of fair value, inventories were written up by $9 million to their estimated fair value. During the first quarter of 2023, $9 million before taxes ($7 million after taxes) was expensed related to the impact of the step-up of acquired Nymölla inventory sold during the quarter. Net sales of $405 million and Income from continuing operations before income taxes of $10 million from the acquired business are included in the Company's consolidated statement of operations for the year ended December 31, 2023. Additionally, Selling and administrative expenses for the year ended December 31, 2023 includes $17 million in charges before taxes ($13 million after taxes) for transaction costs associated with the acquisition. On an unaudited pro forma basis, assuming the acquisition of the Nymölla mill had closed January 1, 2022, the consolidated results would have reflected Net sales of $4.1 billion and Income from continuing operations before income taxes of $535 million for the year ended December 31, 2022. The 2022 pro forma information includes adjustments for non-recurring transaction costs associated with the acquisition of $17 million, and incremental expense of $9 million incurred related to the impact of the step-up of acquired Nymölla inventory sold during the first quarter. The unaudited pro forma consolidated financial information was prepared for comparative purposes only and includes certain adjustments, as noted above. This does not reflect the effect of costs or synergies that would have been expected to result from the integration of the acquisition. The pro forma information does not purport to represent Sylvamo's actual results of operations as if the transaction described above would have occurred as of January 1, 2022, nor is it necessarily an indicator of future results.

DIVESTITURE AND IMPAIRMENT OF B

DIVESTITURE AND IMPAIRMENT OF BUSINESS	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure	DIVESTITURE AND IMPAIRMENT OF BUSINESS RUSSIAN OPERATIONS 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 evaluated to exit the business. As a result, a pre-tax charge of $68 million ($57 million) was recorded for the impairment of the Russian fixed assets during the first quarter of 2022. 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 statement of operations. During the second quarter of 2022, management committed to a plan to sell the Company’s Russian operations. 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. As a result, all historical operating results of the Russian operations are presented as “Discontinued operations, net of taxes” in the consolidated statement of operations. The Russian operations were previously part of the Europe business segment. The following summarizes the major classes of line items comprising Income (Loss) Before Income Taxes reconciled to Discontinued Operations, net of taxes, related to the Russian operations for all periods presented in the consolidated and combined statements of operations. In millions for the years ended December 31 2022 2021 NET SALES $ 518 $ 674 COSTS AND EXPENSES Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below) 425 518 Selling and administrative expenses 10 6 Depreciation, amortization and cost of timber harvested 4 17 Taxes other than payroll and income taxes 1 2 Impairment of business 296 — Interest expense (income), net (3) (1) INCOME BEFORE INCOME TAXES (215) 132 Income tax provision 3 28 DISCONTINUED OPERATIONS, NET OF TAXES $ (218) $ 104 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 and combined statements of cash flows: In millions for the years ended December 31 2022 2021 Cash Provided by Operating Activities $ 20 $ 126 Cash Provided by (Used for) Investment Activities (a) $ (5) $ 14 (a) Includes cash invested in capital projects of $5 million and $7 million for the years ended December 31, 2022 and 2021, respectively.

SUPPLEMENTARY FINANCIAL STATEME

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION TEMPORARY INVESTMENTS Temporary investments totaled $109 million and $80 million as of December 31, 2023 and 2022, respectively. RESTRICTED CASH Restricted cash of $60 million as of December 31, 2023 represents funds held in escrow related to the Brazil Tax Dispute. See Note 14 Long-Term Debt for further details. The following table provides a reconciliation of cash, temporary investments and restricted cash in the consolidated balance sheets to total cash, temporary investments and restricted cash in the consolidated and combined statements of cash flows: In millions as of December 31 2023 2022 Cash and temporary investments $ 220 $ 360 Restricted cash 60 — Total cash, temporary investments and restricted cash in the statements of cash flows $ 280 $ 360 ACCOUNTS AND NOTES RECEIVABLE Accounts and notes receivable, net, by classification were: In millions as of December 31 2023 2022 Accounts and notes receivable: Trade $ 404 $ 430 Notes and other 24 20 Total $ 428 $ 450 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 $25 million and $20 million at December 31, 2023 and December 31, 2022, 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 2023 2022 Raw materials $ 60 $ 40 Finished paper and pulp products 213 226 Operating supplies 109 78 Other 22 20 Total $ 404 $ 364 The last-in, first-out inventory method is used to value most of the Company’s U.S. inventories. Approximately 63% of total raw materials and finished paper and pulp product inventories were valued using this method. The last-in, first-out inventory reserve was $81 million and $54 million as of December 31, 2023 and 2022, respectively. During the period ended December 31, 2023, the amount of inventories in a certain LIFO pool decreased and resulted in the liquidation of LIFO inventory layers carried at lower costs. The effect of this liquidation was to increase income from continuing operations before income taxes in the North America segment by approximately $2 million. PLANTS, PROPERTIES AND EQUIPMENT, NET In millions as of December 31 2023 2022 Land $ 10 $ 8 Buildings 396 361 Machinery 4,298 3,903 Construction in progress 102 103 Capital leases 38 37 Gross cost 4,844 4,412 Less: Accumulated depreciation 3,842 3,595 Plants, Properties and Equipment, net $ 1,002 $ 817 Non-cash additions to plants, property and equipment included within accounts payable were $17 million, $36 million and $6 million as of December 31, 2023, 2022 and 2021, 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 $118 million, $104 million and $107 million for the years ended December 31, 2023, 2022 and 2021, respectively. Cost of products sold excludes depreciation and amortization expense. OTHER LIABILITIES AND COSTS During the year ended December 31, 2023, the Company recorded approximately $13 million before taxes ($10 million after taxes) of severance costs related to a planned reduction in our salaried workforce, of which $3 million is included within Cost of products sold and $10 million is included within Selling and administrative expenses in our consolidated statements of operations. Of these total costs, $2 million, $3 million and $8 million are related to our Europe, Latin America and North America business segments, respectively. These severance amounts are reflected in Other current liabilities in our consolidated balance sheet and will be paid in cash during 2024. INTEREST Interest payments of $68 million, $63 million and $10 million were made during the years ended December 31, 2023, 2022 and 2021, respectively. Amounts related to interest were as follows: In millions 2023 2022 2021 Interest expense (a) $ 64 $ 80 $ 32 Interest income (b) (26) (8) (32) Capitalized interest costs (4) (3) (1) Total $ 34 $ 69 $ (1) (a) Interest expense for 2023 includes $5 million of debt extinguishment cost related to the tender offer for our 7.00% 2029 Senior Notes. Interest expense for 2022 includes $5 million of debt extinguishment cost related to the repayment of the total outstanding balance of Term Loan B. (b) Interest income for 2023 includes $9 million of interest income related to tax settlements and $4 million of interest income related to the recognition of a foreign value-added tax refund in Brazil. ASSET RETIREMENT OBLIGATIONS At December 31, 2023 and 2022, we had recorded liabilities of $27 million and $26 million, respectively, related to asset retirement obligations. These amounts are included in “Other liabilities” in the accompanying consolidated balance sheets. For asset retirement obligations which are conditional upon future events, we cannot reasonably estimate the current fair value of those potential obligations due to the uncertainty as to the timing or amounts that may be incurred.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	LEASES The 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 2023 2022 2021 Operating lease costs $ 21 $ 18 $ 9 Variable lease costs 40 28 20 Short-term lease costs — 7 7 Finance lease cost Amortization of right-of-use assets 3 4 3 Interest on lease liabilities 1 1 1 Total lease cost, net $ 65 $ 58 $ 40 SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES In millions Classification 2023 2022 Assets Operating lease assets Right of use assets $ 58 $ 35 Finance lease assets Plants, properties, and equipment, net (a) 22 24 Total leased assets $ 80 $ 59 Liabilities Current Operating Other current liabilities $ 18 $ 13 Finance Notes payable and current maturities of long-term debt 2 3 Noncurrent Operating Other Liabilities 46 28 Finance Long-term debt 14 14 Total lease liabilities $ 80 $ 58 (a) Finance leases above are presented net of accumulated amortization of $16 million and $13 million as of December 31, 2023 and 2022, respectively. LEASE TERM AND DISCOUNT RATE 2023 2022 Weighted average remaining lease term (years) Operating leases 5.3 years 5.8 years Finance leases 9.6 years 7.5 years Weighted average discount rate Operating leases 4.94 % 2.84 % Finance leases 3.85 % 3.90 % SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES In millions 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows related to operating leases $ 21 $ 21 Operating cash flows related to financing leases 1 1 Financing cash flows related to finance leases 5 5 Right of use assets obtained in exchange for lease liabilities Operating leases 38 14 Finance leases 1 — MATURITY OF LEASE LIABILITIES In millions Operating Leases Financing Leases Total 2024 $ 21 $ 3 $ 24 2025 15 2 17 2026 10 2 12 2027 8 2 10 2028 8 2 10 Thereafter 11 8 19 Total lease payments 73 19 92 Less: imputed interest 9 3 12 Present value of lease liabilities $ 64 $ 16 $ 80
LEASES	LEASES The 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 2023 2022 2021 Operating lease costs $ 21 $ 18 $ 9 Variable lease costs 40 28 20 Short-term lease costs — 7 7 Finance lease cost Amortization of right-of-use assets 3 4 3 Interest on lease liabilities 1 1 1 Total lease cost, net $ 65 $ 58 $ 40 SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES In millions Classification 2023 2022 Assets Operating lease assets Right of use assets $ 58 $ 35 Finance lease assets Plants, properties, and equipment, net (a) 22 24 Total leased assets $ 80 $ 59 Liabilities Current Operating Other current liabilities $ 18 $ 13 Finance Notes payable and current maturities of long-term debt 2 3 Noncurrent Operating Other Liabilities 46 28 Finance Long-term debt 14 14 Total lease liabilities $ 80 $ 58 (a) Finance leases above are presented net of accumulated amortization of $16 million and $13 million as of December 31, 2023 and 2022, respectively. LEASE TERM AND DISCOUNT RATE 2023 2022 Weighted average remaining lease term (years) Operating leases 5.3 years 5.8 years Finance leases 9.6 years 7.5 years Weighted average discount rate Operating leases 4.94 % 2.84 % Finance leases 3.85 % 3.90 % SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES In millions 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows related to operating leases $ 21 $ 21 Operating cash flows related to financing leases 1 1 Financing cash flows related to finance leases 5 5 Right of use assets obtained in exchange for lease liabilities Operating leases 38 14 Finance leases 1 — MATURITY OF LEASE LIABILITIES In millions Operating Leases Financing Leases Total 2024 $ 21 $ 3 $ 24 2025 15 2 17 2026 10 2 12 2027 8 2 10 2028 8 2 10 Thereafter 11 8 19 Total lease payments 73 19 92 Less: imputed interest 9 3 12 Present value of lease liabilities $ 64 $ 16 $ 80

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	12 Months Ended
	Dec. 31, 2023
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, 2023, 2022 and 2021. 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, 2021 Goodwill $ 11 $ 112 $ — $ 123 Accumulated impairment losses (1) — — (1) 10 112 — 122 Currency translation 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) 10 118 — 128 Currency translation — 11 — 11 Goodwill additions/reductions — — — — Accumulated impairment loss additions/reductions — — — — Balance as of December 31, 2023 Goodwill 11 129 — 140 Accumulated impairment losses (1) — — (1) Total $ 10 $ 129 $ — $ 139 The Company performed its annual testing of goodwill impairment by applying the qualitative assessment to its Brazil reporting unit as of October 1, 2023. For the current year evaluation, the Company assessed various assumptions, events and circumstances that would have affected the estimated fair value of the reporting unit under the qualitative assessment for the reporting units listed above. The results of the qualitative assessment indicated that it is not more likely than not that the fair values of its Brazil reporting unit was less than its carrying value. The Company also performed its annual testing of goodwill impairment by applying the quantitative goodwill impairment test to its France reporting unit due to changes in market conditions and the reporting unit's outlook since the previous quantitative goodwill impairment test. The Company calculated the estimated fair value of the France reporting unit using a probability-weighted approach based on discounted future cash flows, market multiples and transaction multiples. As a result, the Company concluded that the fair value of the France reporting unit was not reduced below carrying value and no goodwill impairment charge was recorded. 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, 2023. 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. OTHER INTANGIBLES Identifiable intangible assets comprised the following: 2023 2022 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 $ (51) $ 5 $ 56 $ (50) $ 6 Software 3 (3) — 3 (3) — Other 4 (3) 1 4 (3) 1 Total $ 63 $ (57) $ 6 $ 63 $ (56) $ 7 The Company recognized the following amounts as amortization expense related to intangible assets: In millions 2023 2022 2021 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: 2024 – $2 million, 2025 – $2 million, 2026 – $2 million, 2027 and cumulatively thereafter – $0 million.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
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 2023 2022 2021 U.S. $ 121 $ 176 $ 80 Non-U.S. 248 291 248 Income from continuing operations before income taxes $ 369 $ 467 $ 328 Income tax provision by taxing jurisdictions was as follows: In millions 2023 2022 2021 Current tax provision U.S. federal $ 32 $ 56 $ 26 U.S. state and local 11 15 5 Non-U.S. 73 67 76 $ 116 $ 138 $ 107 Deferred tax provision U.S. federal $ (3) $ (11) $ (3) U.S. state and local (7) (1) (1) Non-U.S. 10 5 (2) $ — $ (7) $ (6) Income tax provision $ 116 $ 131 $ 101 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 2023 2022 2021 Income from continuing operations before income taxes $ 369 $ 467 $ 328 Statutory U.S. income tax rate 21 % 21 % 21 % Income taxes using the statutory U.S. income tax rate 77 98 69 State and local income taxes 2 11 5 Impact of rate differential on non-U.S. earnings 31 29 33 Non-U.S. valuation allowance 7 2 4 Permanent benefit for non-U.S. interest deductions (11) (10) (10) Foreign currency differences and other permanent deductions — (9) — Uncertain tax positions 6 — — U.S. tax on non-U.S. earnings (GILTI and Subpart F) 2 11 — Other, net 2 (1) — Income tax provision $ 116 $ 131 $ 101 Effective income tax rate 31 % 28 % 31 % The components of deferred income tax assets and liabilities are as follows: In millions 2023 2022 Deferred income tax assets: Net operating and capital loss carryforwards $ 27 $ 21 Accrued payroll and benefits 33 31 Lease liabilities 12 7 Tax credits 25 24 Capitalized research and development 15 7 Other 32 40 Gross deferred income tax assets 144 130 Less: valuation allowance (39) (32) Net deferred income tax asset $ 105 $ 98 Deferred income tax liabilities: Intangibles $ (47) $ (44) Inventories (12) (20) Right of use assets (11) (6) Deferred foreign income (62) (50) Plants, properties and equipment (85) (81) Forestlands (52) (48) Gross deferred income tax liabilities (269) (249) Net deferred income tax liability $ (164) $ (151) 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, 2023, a valuation allowance of $39 million has been recorded to reduce the deferred tax asset to the amount that is more likely than not to be realized. The Company made income tax payments, net of refunds, of $112 million during 2023. The reconciliation of the beginning and ending amount of unrecognized tax benefits were as follows: In millions 2023 2022 2021 Balance at January 1 $ (4) $ (3) $ (18) (Additions) reductions for tax positions related to current year (6) (1) (2) Reductions for tax positions related to prior years — — — Transfer of tax positions related to prior years to Parent — — 17 Balance at December 31 $ (10) $ (4) $ (3) Included in the balance of unrecognized tax benefits as of December 31, 2023, December 31, 2022 and December 31, 2021 are $10 million, $4 million and $3 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 2023, we accrued $1 million of interest, and as of December 31, 2023, recognized a liability for interest of $4 million. During 2022, we accrued $1 million of interest, and as of December 31, 2022, recognized a liability for interest of $3 million. During 2021, we accrued $1 million of interest, and as of December 31, 2021, 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 $119 million in tax and $274 million in interest, penalties and fees (adjusted for variation in currency exchange rates and a recent law change pursuant to which the Brazil tax authority agreed to cancel a portion of the interest, penalties, and fees). 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, 2023 net operating loss and income tax credit carryforwards: In millions 2024 Through 2032 Indefinite Total Non-U.S. NOLs $ 6 $ 21 $ 27 U.S. federal, non-U.S. and state tax credit — 25 25 Total 6 46 52 Less: related valuation allowance (6) (31) (37) Total, net $ — $ 15 $ 15

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2023
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 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, 2023. 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 portion of the basins. The Company submitted a proposed pilot intervention plan to CETESB and, in the fourth quarter of 2023 CETESB approved the pre-intervention stages of the pilot intervention plan and requested that some additional measures be added to the plan. In the first quarter of 2024, the Company submitted additional measures that were approved by CETESB. As of December 31, 2023, 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 because the further studies to be conducted and the remediation that may be required will depend on 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 12 Income Taxes for a discussion of a goodwill amortization tax matter in Brazil. The Company reached an amnesty agreement with the Brazilian government related to certain VAT amounts assessed in prior years. This agreement resulted in the recognition of $9 million of interest income during the first quarter of 2023. In addition, the Company recorded a gain to adjust the recognition of a foreign VAT refund in Brazil. This resulted in $5 million of income in cost of products sold and $4 million of interest income during the fourth quarter of 2023. 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, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt is summarized in the following table: In millions as of December 31 2023 2022 Term Loan F - due 2027 (a) $ 471 $ 496 Term Loan A - due 2028 (b) 266 — 7% Senior Notes - due 2029 (c) 89 444 Securitization Program 117 75 Other 16 17 Less: current portion (28) (29) Total $ 931 $ 1,003 (a) As of December 31, 2023 and December 31, 2022, presented net of $3 million and $4 million in unamortized debt issuance costs, respectively. (b) As of December 31, 2023, presented net of $2 million in unamortized debt issuance costs. (c) As of December 31, 2023 and December 31, 2022, presented net of $1 million and $6 million in unamortized debt issuance costs, respectively. 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, 2023, the Company had no outstanding borrowings on the Revolving Credit Facility and $21 million of letters of credit related to the Revolving Credit Facility, resulting in an available borrowing capacity of $429 million. As of December 31, 2022, the Company had no outstanding borrowings on the Revolving Credit Facility and $24 million of letters of credit related to the Revolving Credit Facility, resulting in an available borrowing capacity of $426 million. Any outstanding balance on the Revolving Credit Facility is recorded within “Notes payable and current maturities of long-term debt” in the consolidated balance sheet. In the first quarter of 2023, the Company announced the commencement of a cash tender offer to purchase any and all of the Company’s outstanding 2029 Senior Notes. The Company also solicited consents from the holders of the 2029 Senior Notes to amend certain provisions of the indenture with respect to the notes. In connection with the tender offer and the consent solicitation, the Company entered into a new senior secured term loan facility amendment which provided an aggregate principal amount of $300 million (“Term Loan A”) maturing in 2028. Term Loan A, together with the $60 million of borrowings under the Revolving Credit Facility, were used to pay the total consideration for all notes tendered in the tender offer, plus accrued interest and all fees and expenses incurred in connection with the tender offer and consent solicitation. Upon close in the first quarter, $360 million aggregate principal of the notes were tendered, resulting in a debt extinguishment cost of $5 million, related to the write-off of debt issuance costs. This cost was recorded within “Interest expense (income), net.” Sylvamo North America LLC, a wholly owned subsidiary of the Company, maintains a $120 million accounts receivable finance facility (the “Securitization Program”), maturing in 2025. 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. The average interest rate for the years ended December 31, 2023 and December 31, 2022 was 5.92% and 5.19%, respectively. 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, Term Loan A 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. Effective May 31, 2023, in accordance with the existing credit agreement, the Company transitioned LIBOR-based interest rates to a benchmark reference rate of SOFR. The interest rates applicable to the Term Loan F and Revolving Credit Facility are now based on a fluctuating rate of interest measured by reference to SOFR plus a fixed percentage of 1.85% and 1.60%, respectively, payable monthly, with a SOFR floor of 0.00%. The interest rate applicable to the Term Loan A is based on a fluctuating rate of interest measured in reference to SOFR plus a fixed percentage of 1.85%, subject to a SOFR floor of 0.00%. We are receiving interest patronage credits under the Term Loan F. Patronage distributions, which are made primarily in cash but also in equity in the lenders, are generally 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 period 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 6.31% and 5.23% as of December 31, 2023 and December 31, 2022, respectively. In connection with the Term Loan F, the Company was party to interest rate swaps with various counterparties with a notional amount of $200 million maturing in 2024 and $200 million maturing in 2026. In the first quarter of 2023, the Company received cash proceeds of $12 million from the unwind of the four interest rate swaps maturing in 2024 with a total notional amount of $200 million. In the third quarter 2023, the Company received $19 million from the unwind of the four interest rate swaps maturing in 2026, with a total notional value of $200 million. The resulting gain from unwinds will be amortized into interest expense over the original contract term of the swaps, of which less than one three In the first quarter of 2023, the Company entered into four new interest rate swaps with various counterparties with a notional amount of $200 million, maturing in 2025. The 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 SOFR and the fixed interest rate per notional amount ranging from 3.72% to 3.75%. During second quarter of 2023, all outstanding interest rate swap agreements related to Term Loan F were amended to provide a hedge against changes in variable rate cash flows regarding fluctuations in SOFR as compared to the previous benchmark rate of one-month LIBOR. The revisions to the interest rate swap agreements did not impact our hedge accounting because we applied the accounting expedients outlined in ASU 2020-04 and ASU 2021-01 of ASC Topic 848, Reference Rate Reform. As of December 31, 2023 and December 31, 2022, the total fair value of the interest rate swaps related to Term Loan F was an asset of $1 million and $30 million, respectively. Assets resulting from interest rate swaps are reflected in “Deferred charges and other assets.” In connection with the issuance of Term Loan A, the Company entered into interest rate swaps with a current aggregate notional amount of $269 million that amortize each quarter and mature in 2028. These interest rate swaps allow for the Company to exchange the difference in the variable rates on Term Loan A determined in reference to SOFR and the fixed interest rate per notional amount ranging from 4.13% to 4.16%. In the fourth quarter of 2023, as a result of a $20 million prepayment of Term Loan A, the Company paid $232,000 to unwind a notional value of $20 million of swaps. As of December 31, 2023, the fair value of these interest rate swaps resulted in a liability of $5 million, recorded within “Other liabilities.” The Company is subject to certain covenants limiting, among other things, the ability of most of its subsidiaries to: (a) incur additional indebtedness or issue certain preferred shares; (b) pay dividends on or make distributions in respect of the Company’s or its subsidiaries’ capital stock or make investments or other restricted payments; (c) create restrictions on the ability of the Company’s restricted subsidiaries to pay dividends to the Company or make certain other intercompany transfers; (d) sell certain assets; (e) create liens; (f) consolidate, merge, sell or otherwise dispose of all or substantially all of the Company’s assets; and (g) enter into certain transactions with its affiliates. The Company is currently subject to a maximum consolidated total leverage ratio of 3.75 to 1.00. The limit on restricted payments that we may make prior to the resolution of the Brazil Tax Dispute is $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, or $90 million if the pro-forma consolidated leverage ratio is less than 2.00 to 1.00. However, limitations imposed on restricted payments are eliminated 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 the Company’s share of 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. As of December 31, 2023, the Company has deposited $60 million in an account subject to the control of the administrative agent. Therefore, our ability to make restricted payments under the credit agreement is governed by the provisions in the credit agreement in effect as if the Brazil Tax Dispute is settled, if at the time of any restricted payments we maintain $225 million of available liquidity. As of December 31, 2023, we were in compliance with our debt covenants. The fair market value of total debt was approximately $1.0 billion at December 31, 2023. At December 31, 2023, 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: 2024 - $28 million; 2025 - $155 million; 2026 - $43 million; 2027 - $414 million; 2028 - $231 million; and thereafter - $99 million.

RETIREMENT AND POSTRETIREMENT B

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS	12 Months Ended
	Dec. 31, 2023
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. In millions 2023 2022 Change in projected benefit obligation: Benefit obligation, January 1 $ 307 $ 462 Service cost 4 6 Interest cost 17 13 Actuarial loss (gain) 11 (151) Benefits paid (7) (7) Expenses paid from assets — (1) Effect of foreign currency exchange rate movements 6 (15) Benefit obligation, December 31 $ 338 $ 307 Change in plan assets: Fair value of plan assets, January 1 $ 286 $ 431 Actual return on plan assets 26 (126) Company contributions 6 3 Benefits paid (8) (7) Expenses paid from assets — (1) Effect of foreign currency exchange rate movements 7 (14) Fair value of plan assets, December 31 $ 317 $ 286 Funded status, December 31 $ (21) $ (21) Amounts recognized in the consolidated balance sheets: Non-current asset $ 12 $ 8 Non-current liability (33) (29) $ (21) $ (21) Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): Net prior service cost $ 1 $ 2 Net actuarial loss 93 91 $ 94 $ 93 The accumulated benefit obligation (“ABO”) for all plans was $328 million as of December 31, 2023 and $299 million as of December 31, 2022. 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 2023 2022 Pension plans with ABO in excess of plan assets Accumulated benefit obligation $ 220 $ 201 Fair value of plan assets 196 180 Pension plans with PBO in excess of plan assets Projected benefit obligation $ 229 $ 209 Fair value of plan assets 196 180 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 2023 2022 2021 Service cost $ 4 $ 6 $ 2 Interest cost 17 13 6 Expected return on plan assets (17) (21) (11) Actuarial loss (gain) 3 4 2 Net periodic pension expense (benefit) $ 7 $ 2 $ (1) 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, 2023 is also the discount rate used to determine net pension expense for the 2024 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: 2023 2022 2021 Actuarial assumptions used to determine benefit obligations as of December 31: Discount rate 5.27 % 5.52 % 2.79 % Rate of compensation increase 3.30 % 3.36 % 3.36 % Actuarial assumptions used to determine net periodic pension cost for years ended December 31: Discount rate 5.52 % 2.79 % 2.79 % Expected long-term rate of return on plan assets 5.84 % 5.18 % 5.38 % Rate of compensation increase 3.36 % 3.36 % 2.85 % 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, 2023 and 2022 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 • Other investments - represents primarily 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 were 35% in equity securities, 65% in debt securities and 0% in other investment types for the year ended December 31, 2023, and were 23% in equity securities, 75% in debt securities and 2% in other investment types for the year ended December 31, 2022. The target allocations for each asset class in the U.K. plan were 33% in growth assets and 67% in stabilizing assets for the year ended December 31, 2023, and were 48% in growth assets and 52% in stabilizing assets for the year ended December 31, 2022. Pension assets for the immaterial plans totaled $30 million for the years ended December 31, 2023 and $26 million for the year ended December 31, 2022. These assets primarily relate to government securities within Level 1 of the fair value hierarchy. Fair Value Measurement U.S. Plans 2023 2022 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 $ 5 $ 5 $ — $ 10 $ 10 $ — Equities - developed markets 58 58 — 41 — 41 Equities - emerging markets markets 7 7 — — — — Government securities 50 — 50 7 7 — Corporate bonds 72 — 72 108 — 108 Other fixed income securities — — — 9 — 9 Derivatives — — — 1 — 1 Total Investments $ 192 $ 70 $ 122 $ 176 $ 17 $ 159 Fair Value Measurement U.K. Plans 2023 2022 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 $ 1 $ 1 $ — $ 2 $ 2 $ — Equities - emerging markets — — — — — — Diversified growth funds 8 — 8 6 — 6 Multi-asset credit 10 — 10 8 — 8 Absolute return fixed income 1 — 1 4 — 4 Liability driven investments 32 — 32 30 — 30 Cash flow driven investments 29 — 29 25 — 25 Other Investments: Private equity 14 — — 9 — — Total Investments $ 95 $ 1 $ 80 $ 84 $ 2 $ 73 In accordance with accounting standards, certain investments that are measured at net asset value are not classified in the fair value hierarchy. As part of the U.K. plan assets, the Company holds investments in private equity fund partnerships. These investments are contractually locked up for the life of the private equity funds by the partnership agreements, which mature in 2031 and 2032. The remaining unfunded commitment of these partnership interests is $9 million as of December 31, 2023 and $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, 2023, projected future pension benefit payments, excluding any termination benefits, were as follows: In millions 2024 $ 8 2025 11 2026 13 2027 16 2028 17 2029-2033 113 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, 2023 and 2022 was $9 million and $7 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, 2023
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, 2023, 2,806,393 shares remain available for future grants. The following summarizes restricted stock unit and performance-based restricted stock unit activity for employees: 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 Granted 287,796 47.36 211,791 51.00 Shares issued (300,594) 31.87 — — Forfeited (10,625) 42.94 (8,700) 45.76 Outstanding as of December 31, 2023 627,306 $ 39.50 507,687 $ 45.37 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 is zero as the Company pays dividend equivalent units throughout the performance period. 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: 2023 2022 Expected volatility 50.03 % 49.64 % Risk-free interest rate 4.42 % 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 2023 2022 2021 Total stock-based compensation expense (included in selling and administrative expense) $ 23 $ 20 $ 14 Income tax benefit related to stock-based compensation $ 7 $ 5 $ 3 As of December 31, 2023, $14 million of compensation cost, net of estimated forfeitures, related to all stock-based compensation arrangements for Company employees had not yet been recognized. This amount will be recognized in expense over a weighted-average period of 1.3 years.

FINANCIAL INFORMATION BY BUSINE

FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA	12 Months Ended
	Dec. 31, 2023
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 Divestiture and Impairment of Business , 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 2023 2022 2021 Europe $ 821 $ 501 $ 366 Latin America 1,006 1,023 786 North America 1,951 2,173 1,718 Corporate and Intersegment Sales (57) (69) (42) Net Sales $ 3,721 $ 3,628 $ 2,828 The Company had one customer within our North America business segment that represented approximately 14%, 13% and 12% of our consolidated and combined net sales for the years ended December 31, 2023, 2022 and 2021, respectively. Business Segment Operating Profit In millions 2023 2022 2021 Europe $ (25) $ 50 $ (29) Latin America 197 212 194 North America 269 291 133 Business Segment Operating Profit $ 441 $ 553 $ 298 Income from continuing operations before income taxes $ 369 $ 467 $ 328 Interest expense (income), net 34 69 (1) Corporate special items, net 14 12 5 Other special items, net 24 5 (34) Business Segment Operating Profit $ 441 $ 553 $ 298 Other Special Items, Net In millions 2023 2022 2021 Europe $ 19 $ 1 $ — Latin America (3) — (35) North America 8 4 1 Other Special Items, Net $ 24 $ 5 $ (34) Assets In millions as of December 31 2023 2022 Europe $ 370 $ 258 Latin America 1,226 1,129 North America 909 894 Corporate and Other (a) 367 429 Assets $ 2,872 $ 2,710 (a) Includes corporate assets. Capital Spending In millions 2023 2022 2021 Europe $ 31 $ 7 $ 6 Latin America 112 76 39 North America 67 66 24 Capital Spending $ 210 $ 149 $ 69 Depreciation, Amortization and Cost of Timber Harvested In millions 2023 2022 2021 Europe $ 28 $ 15 $ 18 Latin America 68 59 58 North America 47 51 50 Depreciation, Amortization and Cost of Timber Harvested $ 143 $ 125 $ 126 INFORMATION BY GEOGRAPHIC AREA External Net Sales (a) In millions 2023 2022 2021 United States $ 1,951 $ 2,173 $ 1,718 Brazil 995 1,008 734 Europe 821 501 366 Americas, other than United States and Brazil 11 15 52 Corporate and Intersegment Sales (57) (69) (42) Net Sales $ 3,721 $ 3,628 $ 2,828 (a) Net sales are attributed to countries based on the location of the seller. Long-Lived Assets In millions as of December 31 2023 2022 United States $ 450 $ 436 Brazil 727 635 Europe 189 68 Long-Lived Assets $ 1,366 $ 1,139

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2023
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 was no longer a related party from that point forward. 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. 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.

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements (Policies)	12 Months Ended
	Dec. 31, 2023
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, 2023
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 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.
Business Combinations Policy	BUSINESS COMBINATIONS
Discontinued Operations, Policy	DISCONTINUED OPERATIONS
Temporary Investments	TEMPORARY INVESTMENTS
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy	RESTRICTED CASH Cash that is legally restricted from use is classified as restricted cash. See Note 9 Supplementary Financial Statement Information for further details.
Cost of Goods and Service	COST OF GOODS SOLD
Inventories	INVENTORIES
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 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
Plants, Properties and Equipment	PLANTS, PROPERTIES 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 ASSETS
Employee Retirement Benefits	EMPLOYEE RETIREMENT BENEFITS
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 STATEMENTS
Recently Issued Accounting Pronouncements Not Yet Adopted	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Income Taxes In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This guidance requires a public entity to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. The guidance also requires all entities to disclose annually income taxes paid (net of refunds received) disaggregated by federal (national), state and foreign taxes and to disaggregate the information by jurisdiction based on a quantitative threshold. This guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted and this guidance should be applied prospectively but there is the option to apply it retrospectively. The Company plans to adopt the provisions of this guidance in conjunction with our Form 10-K for the annual period ending December 31, 2025. Pillar Two Directive The Organization for Economic Co-Operation and Development (“OECD”) has been working on a project to act to prevent what it refers to as base erosion and profit shifting (“BEPS”). Most recently, the OECD, through an association of almost 140 countries known as the “inclusive framework,” has announced a consensus to address, among other things, perceived challenges presented by global digital commerce (“Pillar 1”) and the perceived need for a minimum global effective tax rate of 15% (“Pillar 2”). On December 15, 2022, the European Union formally adopted the Pillar Two Directive, and a majority of EU member states have enacted the directive into domestic law as of December 31, 2023. Other countries are taking similar actions. We have evaluated the developments and do not anticipate any material impact on our financial position, results of operations, or cash flows. Segment Reporting In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This guidance requires a public entity to disclose for each reportable segment, on an interim and annual basis, the significant expense categories and amounts that are regularly provided to the chief operating decision-maker (“CODM”) and included in each reported measure of a segment’s profit or loss. Additionally, it requires a public entity to disclose the title and position of the individual or the name of the group or committee identified as the CODM. This guidance is effective for fiscal years beginning after December 31, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted and the guidance should be applied retrospectively to all periods presented in the financial statements, unless it is impracticable. The Company plans to adopt the provisions of this guidance in conjunction with our Form 10-K for the period ending December 31, 2024. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which was subsequently amended by ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of Sunset Date of Topic 848,“ issued in December 2022. Together this guidance provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. This guidance is effective upon issuance and generally can be applied through December 31, 2024. During the three months ended June 30, 2023, the Company transitioned its LIBOR-based debt arrangements and the related interest rate swaps from a reference rate of LIBOR to SOFR (“Standard Overnight Financing Rate”). See Note 14 Long-Term Debt for further details. The impact of the reference rate transition to the debt arrangements and the related interest rate swaps, along with the adoption of the provisions from this standard, did not have a material impact on our consolidated financial statements. At this time, the Company does not plan to enter into additional contracts using LIBOR as a reference rate.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
External net sales by major products	External net sales by major products were as follows: In millions 2023 2022 2021 Europe Uncoated Papers $ 733 $ 396 $ 271 Market Pulp 88 105 77 Europe 821 501 348 Latin America Uncoated Papers 885 887 713 Market Pulp (a) 64 67 56 Latin America 949 954 769 North America Uncoated Papers 1,891 2,091 1,643 Market Pulp 60 82 68 North America 1,951 2,173 1,711 Total $ 3,721 $ 3,628 $ 2,828 (a) Prior period amounts have been corrected to reflect market pulp sales.

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	12 Months Ended
	Dec. 31, 2023
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 2023 2022 2021 Defined Benefit Pension and Postretirement Adjustments Balance at beginning of period $ (76) $ (80) $ (48) Other comprehensive income (loss) before reclassifications (2) 4 (3) Pension plan transfer from Parent — — (30) Amounts reclassified from accumulated other comprehensive income 1 — 1 Balance at end of period (77) (76) (80) Change in Cumulative Foreign Currency Translation Adjustments Balance at beginning of period (1,288) (1,719) (1,433) Transfer from Parent — — (113) Disposal of business — 375 — Other comprehensive income (loss) before reclassifications 91 56 (173) Balance at end of period (1,197) (1,288) (1,719) Net Gains and Losses on Cash Flow Hedging Derivatives Balance at beginning of period 26 (2) 1 Other comprehensive income (loss) before reclassifications 19 41 (2) Amounts reclassified from accumulated other comprehensive income (27) (13) (1) Balance at end of period 18 26 (2) Total Accumulated Other Comprehensive Income (Loss) at End of Period $ (1,256) $ (1,338) $ (1,801)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2023
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 2023 2022 2021 Net income from continuing operations $ 253 $ 336 $ 227 Weighted average common shares outstanding 42.0 43.9 44.0 Effect of dilutive securities 0.7 0.5 — Weighted average common shares outstanding - assuming dilution 42.7 44.4 44.0 Earnings per share from continuing operations - basic $ 6.02 $ 7.65 $ 5.16 Earnings per share from continuing operations - diluted $ 5.93 $ 7.57 $ 5.16 Anti-dilutive shares (a) 0.3 0.2 —

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the final allocation of the purchase price to the fair value assigned to assets and liabilities acquired as of January 2, 2023: In millions Accounts receivable $ 63 Inventory 67 Plants, properties and equipment 115 Other assets 2 Total assets acquired 247 Accounts payable 51 Other liabilities 29 Total liabilities assumed 80 Net assets acquired $ 167

DIVESTITURE AND IMPAIRMENT OF_2

DIVESTITURE AND IMPAIRMENT OF BUSINESS (Tables)	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	In millions for the years ended December 31 2022 2021 NET SALES $ 518 $ 674 COSTS AND EXPENSES Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below) 425 518 Selling and administrative expenses 10 6 Depreciation, amortization and cost of timber harvested 4 17 Taxes other than payroll and income taxes 1 2 Impairment of business 296 — Interest expense (income), net (3) (1) INCOME BEFORE INCOME TAXES (215) 132 Income tax provision 3 28 DISCONTINUED OPERATIONS, NET OF TAXES $ (218) $ 104 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 and combined statements of cash flows: In millions for the years ended December 31 2022 2021 Cash Provided by Operating Activities $ 20 $ 126 Cash Provided by (Used for) Investment Activities (a) $ (5) $ 14

SUPPLEMENTARY FINANCIAL STATE_2

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, temporary investments and restricted cash in the consolidated balance sheets to total cash, temporary investments and restricted cash in the consolidated and combined statements of cash flows: In millions as of December 31 2023 2022 Cash and temporary investments $ 220 $ 360 Restricted cash 60 — Total cash, temporary investments and restricted cash in the statements of cash flows $ 280 $ 360
Schedule of Accounts and Notes Receivable Net	Accounts and notes receivable, net, by classification were: In millions as of December 31 2023 2022 Accounts and notes receivable: Trade $ 404 $ 430 Notes and other 24 20 Total $ 428 $ 450
Schedule of Inventories	INVENTORIES In millions as of December 31 2023 2022 Raw materials $ 60 $ 40 Finished paper and pulp products 213 226 Operating supplies 109 78 Other 22 20 Total $ 404 $ 364
Schedule of Plants, Properties and Equipment, net	PLANTS, PROPERTIES AND EQUIPMENT, NET In millions as of December 31 2023 2022 Land $ 10 $ 8 Buildings 396 361 Machinery 4,298 3,903 Construction in progress 102 103 Capital leases 38 37 Gross cost 4,844 4,412 Less: Accumulated depreciation 3,842 3,595 Plants, Properties and Equipment, net $ 1,002 $ 817
Schedule of Interest Expense	Amounts related to interest were as follows: In millions 2023 2022 2021 Interest expense (a) $ 64 $ 80 $ 32 Interest income (b) (26) (8) (32) Capitalized interest costs (4) (3) (1) Total $ 34 $ 69 $ (1) (a) Interest expense for 2023 includes $5 million of debt extinguishment cost related to the tender offer for our 7.00% 2029 Senior Notes. Interest expense for 2022 includes $5 million of debt extinguishment cost related to the repayment of the total outstanding balance of Term Loan B. (b) Interest income for 2023 includes $9 million of interest income related to tax settlements and $4 million of interest income related to the recognition of a foreign value-added tax refund in Brazil.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Components of Lease Cost	COMPONENTS OF LEASE EXPENSE In millions 2023 2022 2021 Operating lease costs $ 21 $ 18 $ 9 Variable lease costs 40 28 20 Short-term lease costs — 7 7 Finance lease cost Amortization of right-of-use assets 3 4 3 Interest on lease liabilities 1 1 1 Total lease cost, net $ 65 $ 58 $ 40 LEASE TERM AND DISCOUNT RATE 2023 2022 Weighted average remaining lease term (years) Operating leases 5.3 years 5.8 years Finance leases 9.6 years 7.5 years Weighted average discount rate Operating leases 4.94 % 2.84 % Finance leases 3.85 % 3.90 % SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES In millions 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows related to operating leases $ 21 $ 21 Operating cash flows related to financing leases 1 1 Financing cash flows related to finance leases 5 5 Right of use assets obtained in exchange for lease liabilities Operating leases 38 14 Finance leases 1 —
Schedule of Supplemental Balance Sheet Information Related To Leases	SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES In millions Classification 2023 2022 Assets Operating lease assets Right of use assets $ 58 $ 35 Finance lease assets Plants, properties, and equipment, net (a) 22 24 Total leased assets $ 80 $ 59 Liabilities Current Operating Other current liabilities $ 18 $ 13 Finance Notes payable and current maturities of long-term debt 2 3 Noncurrent Operating Other Liabilities 46 28 Finance Long-term debt 14 14 Total lease liabilities $ 80 $ 58 (a)
Maturity of Finance Leases	MATURITY OF LEASE LIABILITIES In millions Operating Leases Financing Leases Total 2024 $ 21 $ 3 $ 24 2025 15 2 17 2026 10 2 12 2027 8 2 10 2028 8 2 10 Thereafter 11 8 19 Total lease payments 73 19 92 Less: imputed interest 9 3 12 Present value of lease liabilities $ 64 $ 16 $ 80
Maturity of Finance Leases	MATURITY OF LEASE LIABILITIES In millions Operating Leases Financing Leases Total 2024 $ 21 $ 3 $ 24 2025 15 2 17 2026 10 2 12 2027 8 2 10 2028 8 2 10 Thereafter 11 8 19 Total lease payments 73 19 92 Less: imputed interest 9 3 12 Present value of lease liabilities $ 64 $ 16 $ 80

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2021 Goodwill $ 11 $ 112 $ — $ 123 Accumulated impairment losses (1) — — (1) 10 112 — 122 Currency translation 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) 10 118 — 128 Currency translation — 11 — 11 Goodwill additions/reductions — — — — Accumulated impairment loss additions/reductions — — — — Balance as of December 31, 2023 Goodwill 11 129 — 140 Accumulated impairment losses (1) — — (1) Total $ 10 $ 129 $ — $ 139
Schedule of Identifiable Intangible Assets	Identifiable intangible assets comprised the following: 2023 2022 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 $ (51) $ 5 $ 56 $ (50) $ 6 Software 3 (3) — 3 (3) — Other 4 (3) 1 4 (3) 1 Total $ 63 $ (57) $ 6 $ 63 $ (56) $ 7
Amortization expense related to intangible assets	The Company recognized the following amounts as amortization expense related to intangible assets: In millions 2023 2022 2021 Amortization expense related to intangible assets $ 2 $ 2 $ 2

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
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 2023 2022 2021 U.S. $ 121 $ 176 $ 80 Non-U.S. 248 291 248 Income from continuing operations before income taxes $ 369 $ 467 $ 328
Schedule of provision for income taxes	Income tax provision by taxing jurisdictions was as follows: In millions 2023 2022 2021 Current tax provision U.S. federal $ 32 $ 56 $ 26 U.S. state and local 11 15 5 Non-U.S. 73 67 76 $ 116 $ 138 $ 107 Deferred tax provision U.S. federal $ (3) $ (11) $ (3) U.S. state and local (7) (1) (1) Non-U.S. 10 5 (2) $ — $ (7) $ (6) Income tax provision $ 116 $ 131 $ 101
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 2023 2022 2021 Income from continuing operations before income taxes $ 369 $ 467 $ 328 Statutory U.S. income tax rate 21 % 21 % 21 % Income taxes using the statutory U.S. income tax rate 77 98 69 State and local income taxes 2 11 5 Impact of rate differential on non-U.S. earnings 31 29 33 Non-U.S. valuation allowance 7 2 4 Permanent benefit for non-U.S. interest deductions (11) (10) (10) Foreign currency differences and other permanent deductions — (9) — Uncertain tax positions 6 — — U.S. tax on non-U.S. earnings (GILTI and Subpart F) 2 11 — Other, net 2 (1) — Income tax provision $ 116 $ 131 $ 101 Effective income tax rate 31 % 28 % 31 %
Schedule of components of deferred income tax assets and liabilities	The components of deferred income tax assets and liabilities are as follows: In millions 2023 2022 Deferred income tax assets: Net operating and capital loss carryforwards $ 27 $ 21 Accrued payroll and benefits 33 31 Lease liabilities 12 7 Tax credits 25 24 Capitalized research and development 15 7 Other 32 40 Gross deferred income tax assets 144 130 Less: valuation allowance (39) (32) Net deferred income tax asset $ 105 $ 98 Deferred income tax liabilities: Intangibles $ (47) $ (44) Inventories (12) (20) Right of use assets (11) (6) Deferred foreign income (62) (50) Plants, properties and equipment (85) (81) Forestlands (52) (48) Gross deferred income tax liabilities (269) (249) Net deferred income tax liability $ (164) $ (151)
Schedule of Unrecognized Tax Benefits Roll Forward	The reconciliation of the beginning and ending amount of unrecognized tax benefits were as follows: In millions 2023 2022 2021 Balance at January 1 $ (4) $ (3) $ (18) (Additions) reductions for tax positions related to current year (6) (1) (2) Reductions for tax positions related to prior years — — — Transfer of tax positions related to prior years to Parent — — 17 Balance at December 31 $ (10) $ (4) $ (3)
Summary of Tax Credit Carryforwards	The following details the scheduled expiration dates of the Company’s December 31, 2023 net operating loss and income tax credit carryforwards: In millions 2024 Through 2032 Indefinite Total Non-U.S. NOLs $ 6 $ 21 $ 27 U.S. federal, non-U.S. and state tax credit — 25 25 Total 6 46 52 Less: related valuation allowance (6) (31) (37) Total, net $ — $ 15 $ 15

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt is summarized in the following table: In millions as of December 31 2023 2022 Term Loan F - due 2027 (a) $ 471 $ 496 Term Loan A - due 2028 (b) 266 — 7% Senior Notes - due 2029 (c) 89 444 Securitization Program 117 75 Other 16 17 Less: current portion (28) (29) Total $ 931 $ 1,003 (a) As of December 31, 2023 and December 31, 2022, presented net of $3 million and $4 million in unamortized debt issuance costs, respectively. (b) As of December 31, 2023, presented net of $2 million in unamortized debt issuance costs. (c) As of December 31, 2023 and December 31, 2022, presented net of $1 million and $6 million in unamortized debt issuance costs, respectively.

RETIREMENT AND POSTRETIREMENT_2

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2023
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. In millions 2023 2022 Change in projected benefit obligation: Benefit obligation, January 1 $ 307 $ 462 Service cost 4 6 Interest cost 17 13 Actuarial loss (gain) 11 (151) Benefits paid (7) (7) Expenses paid from assets — (1) Effect of foreign currency exchange rate movements 6 (15) Benefit obligation, December 31 $ 338 $ 307 Change in plan assets: Fair value of plan assets, January 1 $ 286 $ 431 Actual return on plan assets 26 (126) Company contributions 6 3 Benefits paid (8) (7) Expenses paid from assets — (1) Effect of foreign currency exchange rate movements 7 (14) Fair value of plan assets, December 31 $ 317 $ 286 Funded status, December 31 $ (21) $ (21) Amounts recognized in the consolidated balance sheets: Non-current asset $ 12 $ 8 Non-current liability (33) (29) $ (21) $ (21) Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): Net prior service cost $ 1 $ 2 Net actuarial loss 93 91 $ 94 $ 93
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. In millions 2023 2022 Change in projected benefit obligation: Benefit obligation, January 1 $ 307 $ 462 Service cost 4 6 Interest cost 17 13 Actuarial loss (gain) 11 (151) Benefits paid (7) (7) Expenses paid from assets — (1) Effect of foreign currency exchange rate movements 6 (15) Benefit obligation, December 31 $ 338 $ 307 Change in plan assets: Fair value of plan assets, January 1 $ 286 $ 431 Actual return on plan assets 26 (126) Company contributions 6 3 Benefits paid (8) (7) Expenses paid from assets — (1) Effect of foreign currency exchange rate movements 7 (14) Fair value of plan assets, December 31 $ 317 $ 286 Funded status, December 31 $ (21) $ (21) Amounts recognized in the consolidated balance sheets: Non-current asset $ 12 $ 8 Non-current liability (33) (29) $ (21) $ (21) Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): Net prior service cost $ 1 $ 2 Net actuarial loss 93 91 $ 94 $ 93
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. In millions 2023 2022 Change in projected benefit obligation: Benefit obligation, January 1 $ 307 $ 462 Service cost 4 6 Interest cost 17 13 Actuarial loss (gain) 11 (151) Benefits paid (7) (7) Expenses paid from assets — (1) Effect of foreign currency exchange rate movements 6 (15) Benefit obligation, December 31 $ 338 $ 307 Change in plan assets: Fair value of plan assets, January 1 $ 286 $ 431 Actual return on plan assets 26 (126) Company contributions 6 3 Benefits paid (8) (7) Expenses paid from assets — (1) Effect of foreign currency exchange rate movements 7 (14) Fair value of plan assets, December 31 $ 317 $ 286 Funded status, December 31 $ (21) $ (21) Amounts recognized in the consolidated balance sheets: Non-current asset $ 12 $ 8 Non-current liability (33) (29) $ (21) $ (21) Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): Net prior service cost $ 1 $ 2 Net actuarial loss 93 91 $ 94 $ 93
Schedule of accumulated and projected benefit obligations	In millions as of December 31 2023 2022 Pension plans with ABO in excess of plan assets Accumulated benefit obligation $ 220 $ 201 Fair value of plan assets 196 180 Pension plans with PBO in excess of plan assets Projected benefit obligation $ 229 $ 209 Fair value of plan assets 196 180
Schedule of defined benefit plans disclosures	In millions as of December 31 2023 2022 Pension plans with ABO in excess of plan assets Accumulated benefit obligation $ 220 $ 201 Fair value of plan assets 196 180 Pension plans with PBO in excess of plan assets Projected benefit obligation $ 229 $ 209 Fair value of plan assets 196 180
Schedule of net benefit costs	Net periodic pension expense comprised the following: In millions 2023 2022 2021 Service cost $ 4 $ 6 $ 2 Interest cost 17 13 6 Expected return on plan assets (17) (21) (11) Actuarial loss (gain) 3 4 2 Net periodic pension expense (benefit) $ 7 $ 2 $ (1)
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: 2023 2022 2021 Actuarial assumptions used to determine benefit obligations as of December 31: Discount rate 5.27 % 5.52 % 2.79 % Rate of compensation increase 3.30 % 3.36 % 3.36 % Actuarial assumptions used to determine net periodic pension cost for years ended December 31: Discount rate 5.52 % 2.79 % 2.79 % Expected long-term rate of return on plan assets 5.84 % 5.18 % 5.38 % Rate of compensation increase 3.36 % 3.36 % 2.85 %
Defined benefit plan, plan assets, category	The target allocations for each asset class in the U.S. plan were 35% in equity securities, 65% in debt securities and 0% in other investment types for the year ended December 31, 2023, and were 23% in equity securities, 75% in debt securities and 2% in other investment types for the year ended December 31, 2022. The target allocations for each asset class in the U.K. plan were 33% in growth assets and 67% in stabilizing assets for the year ended December 31, 2023, and were 48% in growth assets and 52% in stabilizing assets for the year ended December 31, 2022. Pension assets for the immaterial plans totaled $30 million for the years ended December 31, 2023 and $26 million for the year ended December 31, 2022. These assets primarily relate to government securities within Level 1 of the fair value hierarchy. Fair Value Measurement U.S. Plans 2023 2022 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 $ 5 $ 5 $ — $ 10 $ 10 $ — Equities - developed markets 58 58 — 41 — 41 Equities - emerging markets markets 7 7 — — — — Government securities 50 — 50 7 7 — Corporate bonds 72 — 72 108 — 108 Other fixed income securities — — — 9 — 9 Derivatives — — — 1 — 1 Total Investments $ 192 $ 70 $ 122 $ 176 $ 17 $ 159 Fair Value Measurement U.K. Plans 2023 2022 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 $ 1 $ 1 $ — $ 2 $ 2 $ — Equities - emerging markets — — — — — — Diversified growth funds 8 — 8 6 — 6 Multi-asset credit 10 — 10 8 — 8 Absolute return fixed income 1 — 1 4 — 4 Liability driven investments 32 — 32 30 — 30 Cash flow driven investments 29 — 29 25 — 25 Other Investments: Private equity 14 — — 9 — — Total Investments $ 95 $ 1 $ 80 $ 84 $ 2 $ 73
Schedule of expected future benefit payments	At December 31, 2023, projected future pension benefit payments, excluding any termination benefits, were as follows: In millions 2024 $ 8 2025 11 2026 13 2027 16 2028 17 2029-2033 113

INCENTIVE PLANS (Tables)

INCENTIVE PLANS (Tables)	12 Months Ended
	Dec. 31, 2023
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: 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 Granted 287,796 47.36 211,791 51.00 Shares issued (300,594) 31.87 — — Forfeited (10,625) 42.94 (8,700) 45.76 Outstanding as of December 31, 2023 627,306 $ 39.50 507,687 $ 45.37
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 2023 2022 2021 Total stock-based compensation expense (included in selling and administrative expense) $ 23 $ 20 $ 14 Income tax benefit related to stock-based compensation $ 7 $ 5 $ 3

FINANCIAL INFORMATION BY BUSI_2

FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting	INFORMATION BY BUSINESS SEGMENT Net Sales In millions 2023 2022 2021 Europe $ 821 $ 501 $ 366 Latin America 1,006 1,023 786 North America 1,951 2,173 1,718 Corporate and Intersegment Sales (57) (69) (42) Net Sales $ 3,721 $ 3,628 $ 2,828 The Company had one customer within our North America business segment that represented approximately 14%, 13% and 12% of our consolidated and combined net sales for the years ended December 31, 2023, 2022 and 2021, respectively. Business Segment Operating Profit In millions 2023 2022 2021 Europe $ (25) $ 50 $ (29) Latin America 197 212 194 North America 269 291 133 Business Segment Operating Profit $ 441 $ 553 $ 298 Income from continuing operations before income taxes $ 369 $ 467 $ 328 Interest expense (income), net 34 69 (1) Corporate special items, net 14 12 5 Other special items, net 24 5 (34) Business Segment Operating Profit $ 441 $ 553 $ 298 Other Special Items, Net In millions 2023 2022 2021 Europe $ 19 $ 1 $ — Latin America (3) — (35) North America 8 4 1 Other Special Items, Net $ 24 $ 5 $ (34) Assets In millions as of December 31 2023 2022 Europe $ 370 $ 258 Latin America 1,226 1,129 North America 909 894 Corporate and Other (a) 367 429 Assets $ 2,872 $ 2,710 (a) Includes corporate assets. Capital Spending In millions 2023 2022 2021 Europe $ 31 $ 7 $ 6 Latin America 112 76 39 North America 67 66 24 Capital Spending $ 210 $ 149 $ 69 Depreciation, Amortization and Cost of Timber Harvested In millions 2023 2022 2021 Europe $ 28 $ 15 $ 18 Latin America 68 59 58 North America 47 51 50 Depreciation, Amortization and Cost of Timber Harvested $ 143 $ 125 $ 126
Schedule of External Net Sales	External Net Sales (a) In millions 2023 2022 2021 United States $ 1,951 $ 2,173 $ 1,718 Brazil 995 1,008 734 Europe 821 501 366 Americas, other than United States and Brazil 11 15 52 Corporate and Intersegment Sales (57) (69) (42) Net Sales $ 3,721 $ 3,628 $ 2,828 (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 2023 2022 United States $ 450 $ 436 Brazil 727 635 Europe 189 68 Long-Lived Assets $ 1,366 $ 1,139

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, 2023	Oct. 01, 2021	Sep. 30, 2021 USD ($) term_loan
Schedule of Equity Method Investments [Line Items]
General corporate expenses		$ 119
Long-term debt					$ 1,500
Number of term loans | term_loan					2
Debt Instrument, interest rate, stated percentage			7%
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 ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from External Customer [Line Items]
Net Sales	$ 3,721,000,000	$ 3,628,000,000	$ 2,828,000,000
Contract liabilities	8,000,000	0
Europe
Revenue from External Customer [Line Items]
Net Sales	821,000,000	501,000,000	348,000,000
Latin America
Revenue from External Customer [Line Items]
Net Sales	949,000,000	954,000,000	769,000,000
North America
Revenue from External Customer [Line Items]
Net Sales	1,951,000,000	2,173,000,000	1,711,000,000
Uncoated Papers | Europe
Revenue from External Customer [Line Items]
Net Sales	733,000,000	396,000,000	271,000,000
Uncoated Papers | Latin America
Revenue from External Customer [Line Items]
Net Sales	885,000,000	887,000,000	713,000,000
Uncoated Papers | North America
Revenue from External Customer [Line Items]
Net Sales	1,891,000,000	2,091,000,000	1,643,000,000
Market Pulp | Europe
Revenue from External Customer [Line Items]
Net Sales	88,000,000	105,000,000	77,000,000
Market Pulp | Latin America
Revenue from External Customer [Line Items]
Net Sales	64,000,000	67,000,000	56,000,000
Market Pulp | North America
Revenue from External Customer [Line Items]
Net Sales	$ 60,000,000	$ 82,000,000	$ 68,000,000

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, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 678	$ 182	$ 2,112
Net transfers (to) from Parent			(567)
Disposal of business		(375)
Balance at end of period	901	678	182
Total Accumulated Other Comprehensive Income (Loss) at End of Period	901	678	182
Accumulated  Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,338)	(1,801)	(1,480)
Net transfers (to) from Parent			(143)
Disposal of business		(375)
Balance at end of period	(1,256)	(1,338)	(1,801)
Total Accumulated Other Comprehensive Income (Loss) at End of Period	(1,256)	(1,338)	(1,801)
Defined Benefit Pension and Postretirement Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(76)	(80)	(48)
Other comprehensive income (loss) before reclassifications	(2)	4	(3)
Net transfers (to) from Parent	0	0	(30)
Amounts reclassified from accumulated other comprehensive income	1	0	1
Balance at end of period	(77)	(76)	(80)
Total Accumulated Other Comprehensive Income (Loss) at End of Period	(77)	(76)	(80)
Change in Cumulative Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,288)	(1,719)	(1,433)
Other comprehensive income (loss) before reclassifications	91	56	(173)
Net transfers (to) from Parent	0	0	(113)
Disposal of business	0	375	0
Balance at end of period	(1,197)	(1,288)	(1,719)
Total Accumulated Other Comprehensive Income (Loss) at End of Period	(1,197)	(1,288)	(1,719)
Net Gains and Losses on Cash Flow Hedging Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	26	(2)	1
Other comprehensive income (loss) before reclassifications	19	41	(2)
Amounts reclassified from accumulated other comprehensive income	(27)	(13)	(1)
Balance at end of period	18	26	(2)
Total Accumulated Other Comprehensive Income (Loss) at End of Period	$ 18	$ 26	$ (2)

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	Dec. 31, 2023	Dec. 31, 2022	Oct. 01, 2021
Earnings Per Share [Abstract]
Common shares outstanding (in shares)	41,200,000	42,600,000	43,949,277

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net income from continuing operations	$ 253	$ 336	$ 227
Weighted average common shares outstanding	42,000,000	43,900,000	44,000,000
Effect of dilutive securities	700,000	500,000	0
Weighted average common shares outstanding - assuming dilution	42,700,000	44,400,000	44,000,000
Income (Loss) from Continuing Operations, Per Basic Share	$ 6.02	$ 7.65	$ 5.16
Income (Loss) from Continuing Operations, Per Diluted Share	$ 5.93	$ 7.57	$ 5.16
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.3	0.2	0

ACQUISITIONS Table (Details)

ACQUISITIONS Table (Details) - Nymolla $ in Millions	Jan. 02, 2023 USD ($)
Business Acquisition [Line Items]
Accounts receivable	$ 63
Inventory	67
Plants, properties and equipment	115
Other assets	2
Total assets acquired	247
Accounts payable	51
Other liabilities	29
Total liabilities assumed	80
Net assets acquired	$ 167

ACQUISITIONS Narrative (Details

ACQUISITIONS Narrative (Details) - Nymolla	3 Months Ended		12 Months Ended
	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Jan. 02, 2023 paperMachines shortTons
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	€ 157,000,000	$ 167,000,000
Capacity, Short Tons | shortTons				500,000
Paper Machines | paperMachines				2
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory		9,000,000
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			$ 405,000,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			10,000,000
Business Acquisition, Pro Forma Revenue			4,100,000,000
Business Acquisition, Pro Forma Net Income (Loss)			535,000,000
Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs, Net of Tax			13,000,000
Business Combination, Acquisition Related Costs			$ 17,000,000
Fair Value Adjustment to Inventory
Business Acquisition [Line Items]
Cost of Goods and Service, Excluding Depreciation, Depletion and Amortization, Net of Tax		$ 7,000,000

DIVESTITURE AND IMPAIRMENT OF_3

DIVESTITURE AND IMPAIRMENT OF BUSINESS - Consolidated Statement of Operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Selling and administrative expenses	$ 343,000,000	$ 325,000,000	$ 207,000,000
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
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)		425,000,000	518,000,000
Selling and administrative expenses		10,000,000	6,000,000
Depreciation, amortization and cost of timber harvested		4,000,000	17,000,000
Taxes other than payroll and income taxes		1,000,000	2,000,000
Impairment of business		296,000,000	0
Interest expense (income), net		(3,000,000)	(1,000,000)
INCOME BEFORE INCOME TAXES		(215,000,000)	132,000,000
Income tax provision		3,000,000	28,000,000
DISCONTINUED OPERATIONS, NET OF TAXES		$ (218,000,000)	$ 104,000,000

DIVESTITURE AND IMPAIRMENT OF_4

DIVESTITURE AND IMPAIRMENT OF BUSINESS - Consolidated Statement of Cash flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
CASH PROVIDED BY OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	$ 0	$ 20	$ 126
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM DISCONTINUED OPERATIONS, NET	$ 0	(5)	14
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
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM DISCONTINUED OPERATIONS, NET		(5)	14
Capital Expenditure, Discontinued Operations		$ 5	$ 7

DIVESTITURE AND IMPAIRMENT OF_5

DIVESTITURE AND IMPAIRMENT OF BUSINESS (Details) - RUSSIAN FEDERATION - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Mar. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Asset Impairment Charges		$ 68
Asset Impairment Charge, Net of Tax		$ 57
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

SUPPLEMENTARY FINANCIAL STATE_3

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Temporary Investments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Short-term Investments	$ 109	$ 80
Restricted cash	$ 60	$ 0

SUPPLEMENTARY FINANCIAL STATE_4

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and temporary investments	$ 220	$ 360
Restricted cash	60	0
Total cash, temporary investments and restricted cash in the statements of cash flows	$ 280	$ 360	$ 159	$ 70

SUPPLEMENTARY FINANCIAL STATE_5

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Schedule of Accounts and Notes Receivable, Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Trade	$ 404	$ 430
Notes and other	24	20
Total	$ 428	$ 450

SUPPLEMENTARY FINANCIAL STATE_6

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Expected Credit Losses (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allowance for expected credit losses	$ 25	$ 20

SUPPLEMENTARY FINANCIAL STATE_7

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 60	$ 40
Finished paper and pulp products	213	226
Operating supplies	109	78
Other	22	20
Total	$ 404	364
Inventory, LIFO reserve percentage	63%
Last-in, first-out inventory reserve	$ 81	$ 54
Effect of LIFO Inventory Liquidation on Income	$ 2

SUPPLEMENTARY FINANCIAL STATE_8

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Plants, Property and Equipment, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Capital leases	$ 38	$ 37
Gross cost	4,844	4,412
Less: Accumulated depreciation	3,842	3,595
Plants, Properties and Equipment, net	1,002	817
Non-cash additions	17	36	$ 6
Depreciation expense	118	104	$ 107
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	10	8
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 396	361
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	$ 4,298	3,903
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	$ 102	$ 103

SUPPLEMENTARY FINANCIAL STATE_9

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION Other Liabilities and Costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 13
Severance Costs, Net of Taxes	10
Europe
Restructuring Cost and Reserve [Line Items]
Severance Costs	2
Latin America
Restructuring Cost and Reserve [Line Items]
Severance Costs	3
North America
Restructuring Cost and Reserve [Line Items]
Severance Costs	8
Costs of goods sold, excluding depreciation, depletion and amortization
Restructuring Cost and Reserve [Line Items]
Severance Costs	3
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 10

SUPPLEMENTARY FINANCIAL STAT_10

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest payment	$ 68	$ 63	$ 10
Interest expense (a)	64	80	32
Interest income (b)	(26)	(8)	(32)
Capitalized interest costs	(4)	(3)	(1)
Interest Expense (Income), Including Capitalized Interest Costs, Net	34	$ 69	$ (1)
Payment for Debt Extinguishment or Debt Prepayment Cost	$ 5
Debt Instrument, interest rate, stated percentage	7%

SUPPLEMENTARY FINANCIAL STAT_11

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Asset retirement obligations	$ 27	$ 26

LEASES - Narrative (Details)

LEASES - Narrative (Details) - Maximum	Dec. 31, 2023
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease costs	$ 21	$ 18	$ 9
Variable lease costs	40	28	20
Short-term lease costs	0	7	7
Finance lease cost
Amortization of right-of-use assets	3	4	3
Interest on lease liabilities	1	1	1
Total lease cost, net	$ 65	$ 58	$ 40

LEASES - Balance Sheet Componen

LEASES - Balance Sheet Components (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets
Operating lease assets	$ 58	$ 35
Finance lease assets	22	24
Total leased assets	80	59
Current
Operating	18	13
Finance	2	3
Noncurrent
Operating	46	28
Finance	14	14
Total lease liabilities	$ 80	$ 58
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	$ 16	$ 13

LEASES - Lease term and discoun

LEASES - Lease term and discount rate (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating leases, weighted average remaining lease term (years)	5 years 3 months 18 days	5 years 9 months 18 days
Finance leases, weighted average remaining lease term (years)	9 years 7 months 6 days	7 years 6 months
Operating leases, weighted average discount rate (Percent)	4.94%	2.84%
Finance leases, weighted average discount rate (Percent)	3.85%	3.90%

LEASES - Supplemental cash flow

LEASES - Supplemental cash flow information related to leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash flows related to operating leases	$ 21	$ 21
Operating cash flows related to financing leases	1	1
Financing cash flows related to finance leases	5	5
Operating leases	38	14
Finance leases	$ 1	$ 0

LEASES - Maturity of lease liab

LEASES - Maturity of lease liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 21
2025	15
2026	10
2027	8
2028	8
Thereafter	11
Total lease payments	73
Less: imputed interest	9
Present value of lease liabilities	64
Financing Leases
2024	3
2025	2
2026	2
2027	2
2028	2
Thereafter	8
Total lease payments	19
Less: imputed interest	3
Finance lease cost	16
Total
2024	24
2025	17
2026	12
2027	10
2028	10
Thereafter	19
Total lease payments	92
Less: imputed interest	12
Total lease liabilities	$ 80	$ 58

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Goodwill gross beginning balance	$ 129,000,000	$ 123,000,000
Accumulated impairment loss, beginning balance	(1,000,000)	(1,000,000)
Goodwill, beginning balance	128,000,000	122,000,000
Currency translation and other	11,000,000	6,000,000
Goodwill additions/reductions	0	0
Accumulated impairment loss additions/reductions	0	0	$ 0
Goodwill gross ending balance	140,000,000	129,000,000	123,000,000
Accumulated impairment loss, ending balance	(1,000,000)	(1,000,000)	(1,000,000)
Goodwill, ending balance	139,000,000	128,000,000	122,000,000
Europe
Goodwill [Roll Forward]
Goodwill gross beginning balance	11,000,000	11,000,000
Accumulated impairment loss, beginning balance	(1,000,000)	(1,000,000)
Goodwill, beginning balance	10,000,000	10,000,000
Currency translation and other	0
Goodwill additions/reductions	0	0
Accumulated impairment loss additions/reductions	0	0
Goodwill gross ending balance	11,000,000	11,000,000	11,000,000
Accumulated impairment loss, ending balance	(1,000,000)	(1,000,000)	(1,000,000)
Goodwill, ending balance	10,000,000	10,000,000	10,000,000
Latin America
Goodwill [Roll Forward]
Goodwill gross beginning balance	118,000,000	112,000,000
Accumulated impairment loss, beginning balance	0	0
Goodwill, beginning balance	118,000,000	112,000,000
Currency translation and other	11,000,000	6,000,000
Goodwill additions/reductions	0	0
Accumulated impairment loss additions/reductions	0	0
Goodwill gross ending balance	129,000,000	118,000,000	112,000,000
Accumulated impairment loss, ending balance	0	0	0
Goodwill, ending balance	129,000,000	118,000,000	112,000,000
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, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 63	$ 63
Accumulated Amortization	(57)	(56)
Net Intangible Assets	6	7
Customer relationships and lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	56	56
Accumulated Amortization	(51)	(50)
Net Intangible Assets	5	6
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3	3
Accumulated Amortization	(3)	(3)
Net Intangible Assets	0	0
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4	4
Accumulated Amortization	(3)	(3)
Net Intangible Assets	$ 1	$ 1

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES - Amortization Expense Related to Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 2
2025	2
2026	2
Thereafter	$ 0

INCOME TAXES - Income (loss) be

INCOME TAXES - Income (loss) before income taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S.	$ 121	$ 176	$ 80
Non-U.S.	248	291	248
Income from continuing operations before income taxes	$ 369	$ 467	$ 328

INCOME TAXES - Income tax provi

INCOME TAXES - Income tax provision (benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current tax provision
U.S. federal	$ 32	$ 56	$ 26
U.S. state and local	11	15	5
Non-U.S.	73	67	76
Total current income tax expense (benefit)	116	138	107
Deferred tax provision
U.S. federal	(3)	(11)	(3)
U.S. state and local	(7)	(1)	(1)
Non-U.S.	10	5	(2)
Total deferred income tax expense (benefit)	0	(7)	(6)
Income tax provision	$ 116	$ 131	$ 101

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income from continuing operations before income taxes	$ 369	$ 467	$ 328
Statutory U.S. income tax rate	21%	21%	21%
Income taxes using the statutory U.S. income tax rate	$ 77	$ 98	$ 69
State and local income taxes	2	11	5
Impact of rate differential on non-U.S. earnings	31	29	33
Non-U.S. valuation allowance	7	2	4
Permanent benefit for non-U.S. interest deductions	(11)	(10)	(10)
Effective IncomeTax Rate Reconciliation, Foreign Currency Differences	0	(9)	0
Uncertain tax positions	6	0	0
U.S. tax on non-U.S. earnings (GILTI and Subpart F)	2	11	0
Other, net	2	(1)	0
Income tax provision	$ 116	$ 131	$ 101
Effective income tax rate	31%	28%	31%

INCOME TAXES - Components of de

INCOME TAXES - Components of deferred tax assets and liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred income tax assets:
Net operating and capital loss carryforwards	$ 27	$ 21
Accrued payroll and benefits	33	31
Lease liabilities	12	7
Tax credits	25	24
Deferred Tax Assets, Tax Credit Carryforwards, Research	15	7
Other	32	40
Gross deferred income tax assets	144	130
Less: valuation allowance	(39)	(32)
Net deferred income tax asset	105	98
Deferred income tax liabilities:
Intangibles	(47)	(44)
Deferred Tax Liabilities, Inventory	(12)	(20)
Right of use assets	(11)	(6)
Deferred foreign income	(62)	(50)
Plants, properties and equipment	(85)	(81)
Forestlands	(52)	(48)
Gross deferred income tax liabilities	(269)	(249)
Net deferred income tax liability	$ (164)	$ (151)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Examination [Line Items]
Statutory U.S. income tax rate		21%	21%	21%
Valuation allowance	$ 39,000,000	$ 39,000,000	$ 32,000,000
Change in equity related to the spin-off			(3,000,000)
Income tax payments, net of refunds	112,000,000
Unrecognized tax benefits	10,000,000	10,000,000	4,000,000	$ 3,000,000
Liability for interest	$ 4,000,000	4,000,000	3,000,000	2,000,000
Accrued interest		1,000,000	1,000,000	$ 1,000,000
Income tax examination, estimate of possible loss		119,000,000
Income tax examination, penalties and interest expense		$ 274,000,000
Income tax examination, tax liabilities payable, percentage	40%	40%
Income tax examination, tax liability, threshold	$ 300,000,000	$ 300,000,000
Retained Earnings
Income Tax Examination [Line Items]
Change in equity related to the spin-off			$ (3,000,000)
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits	$ (4)	$ (3)	$ (18)
(Additions) reductions for tax positions related to current year	(6)	(1)	(2)
Reductions for tax positions related to prior years	0	0	0
Transfer of tax positions related to prior years to Parent	0	0	17
Unrecognized Tax Benefits	$ (10)	$ (4)	$ (3)

INCOME TAXES - Net operating lo

INCOME TAXES - Net operating loss and income tax credit carryforwards (Details) $ in Millions	Dec. 31, 2023 USD ($)
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	$ 52
Less: valuation allowance	(37)
Total, net	(15)
Non-US
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	27
U.S. and Non-U.S.
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	25
2024 Through 2032
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	6
Less: valuation allowance	(6)
Total, net	0
2024 Through 2032 | U.S. and Non-U.S.
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	0
2024 Through 2032 | Non-US
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	6
Indefinite
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	46
Less: valuation allowance	(31)
Total, net	15
Indefinite | Non-US
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	21
Indefinite | U.S. and Non-U.S.
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	$ 25

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
Brazil Tax Amnesty Case
Site Contingency [Line Items]
Litigation Settlement Interest		$ 9
Brazil Foreign VAT Refund | Secretariat of the Federal Revenue Bureau of Brazil
Site Contingency [Line Items]
Interest Income, Other	$ 4	$ 4
Brazil Foreign VAT Refund | Secretariat of the Federal Revenue Bureau of Brazil | Costs of Goods and Services, Excluding Depreciation and Amortization
Site Contingency [Line Items]
Other Nonoperating Income	$ 5
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	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Less: current portion	$ (28)	$ (29)
Long-Term Debt	931	1,003
Other Long-Term Debt
Debt Instrument [Line Items]
Long-term debt	16	17
Term Loan F Due 2027 | Secured Debt
Debt Instrument [Line Items]
Long-term debt	471	496
Unamortized debt issuance costs	3	4
Term Loan A Due 2028 | Secured Debt
Debt Instrument [Line Items]
Long-term debt	266	0
Unamortized debt issuance costs	2
Seven Percent Senior Notes Due 2029 | Senior Notes
Debt Instrument [Line Items]
Long-term debt	89	444
Unamortized debt issuance costs	1	6
Receivables Securitization Program
Debt Instrument [Line Items]
Long-term debt	$ 117	$ 75

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details)	3 Months Ended				12 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2021 term_loan
Debt Instrument [Line Items]
Number of term loans | term_loan						2
Payment for Debt Extinguishment or Debt Prepayment Cost					$ 5,000,000
Debt Instrument, interest rate, stated percentage	7%				7%
Fair market value of total debt	$ 1,000,000,000				$ 1,000,000,000
2024	28,000,000				28,000,000
2025	155,000,000				155,000,000
2026	43,000,000				43,000,000
2027	414,000,000				414,000,000
2028	231,000,000				231,000,000
Thereafter	99,000,000				$ 99,000,000
Debt Instrument, Consolidated Total, Maximum Leverage Ratio					375%
Ratio Below 2.50
Debt Instrument [Line Items]
Debt Instrument, Consolidated Total Leverage Ratio, Minimum					2.50
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
Ratio Below 2.00
Debt Instrument [Line Items]
Income Tax Examination, Maximum Annual Restricted Payments Increase					90,000,000
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
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
Income Tax Examination, Current Amount Deposited with Credit Agreement Agent	60,000,000				60,000,000
Available Liquidity
Debt Instrument [Line Items]
Income Tax Examination, Available Liquidity Required to Eliminate Limits on Maximum Annual Restricted Payments					$ 225,000,000
Ratio Equal to Or Above 2.00
Debt Instrument [Line Items]
Debt Instrument, Consolidated Total Leverage Ratio, Minimum					2
Receivables Securitization Program
Debt Instrument [Line Items]
Total borrowing capacity	$ 120,000,000				$ 120,000,000
us-gaap_LineOfCreditFacilityAverageInterestRateAtPeriodEnd	5.92%			5.19%	5.92%
Term Loan F Notes Due 2027 | Interest Rate Swap | 2024 | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer					1 year
Term Loan F Notes Due 2027 | Interest Rate Swap | 2026 | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer					3 years
Term Loan F Due 2027 | Interest Rate Swap | Deferred Charges and Other Assets
Debt Instrument [Line Items]
Interest Rate Fair Value Hedge Asset at Fair Value	$ 1,000,000			$ 30,000,000	$ 1,000,000
Term Loan F Due 2027 | Interest Rate Swap | 2024 | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional amount				200,000,000
Swap Unwind, Cash Proceeds			$ 12,000,000
Number of Interest Rate Swaps Unwound			4
Notional Amount, Interest Rate Swaps, Unwound			$ 200,000,000
Term Loan F Due 2027 | Interest Rate Swap | 2026 | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional amount				200,000,000
Swap Unwind, Cash Proceeds		$ 19,000,000
Number of Interest Rate Swaps Unwound		4
Notional Amount, Interest Rate Swaps, Unwound		$ 200,000,000
Term Loan F Due 2027 | Interest Rate Swap | 2025 | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional amount	$ 200,000,000				$ 200,000,000
Number of New Interest Rate Swaps			4
Term Loan F Due 2027 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate per notional amount	3.72%				3.72%
Term Loan F Due 2027 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate per notional amount	3.75%				3.75%
Term Loan A Due 2028
Debt Instrument [Line Items]
Payment for Debt Extinguishment or Debt Prepayment Cost	$ 20,000,000
Term Loan A Due 2028 | Interest Rate Swap | Other Liabilities
Debt Instrument [Line Items]
Interest Rate Fair Value Hedge Liability at Fair Value	5,000,000				$ 5,000,000
Term Loan A Due 2028 | Interest Rate Swap | 2024 to 2026 | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional amount	269,000,000				$ 269,000,000
Notional Amount, Interest Rate Swaps, Unwound		$ 20,000,000
Payment to Unwind Derivative Instrument	$ 232,000
Term Loan A Due 2028 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate per notional amount	4.13%				4.13%
Term Loan A Due 2028 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate per notional amount	4.16%				4.16%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total borrowing capacity	$ 450,000,000				$ 450,000,000
Long-term Line of Credit	0		$ 60,000,000	0	0
Letters of Credit Outstanding, Amount	21,000,000			24,000,000	21,000,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 429,000,000			426,000,000	$ 429,000,000
Debt Instrument, interest rate, stated percentage	1.60%				1.60%
Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | 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%	7%
Debt Instrument, Repaid, Principal			360,000,000
Senior Notes | Seven Percent Senior Notes Due 2029 | Interest (expense) income
Debt Instrument [Line Items]
Payment for Debt Extinguishment or Debt Prepayment Cost			5,000,000
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 B Due 2028 | Interest (expense) income
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	1.85%				1.85%
Debt instrument, patronage distributions, percentage	0.90%				0.90%
Debt instrument, patronage distributions, cash rebate, percentage	0.70%				0.70%
Debt instrument, effective interest rate	6.31%			5.23%	6.31%
Secured Debt | Term Loan F Notes Due 2027 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					0%
Secured Debt | Term Loan A Due 2028
Debt Instrument [Line Items]
Debt Instrument, interest rate, stated percentage	1.85%				1.85%
Debt Instrument, Issued, Principal			$ 300,000,000
Secured Debt | Term Loan A Due 2028 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					0%

RETIREMENT AND POSTRETIREMENT_3

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Compensation And Non-Qualifie Pension Plan | Deferred Charges and Other Assets
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation receivables	$ 24
Deferred Compensation And Non-Qualifie Pension Plan | Accounts Payable
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation savings plan liability	21
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	338	$ 307	$ 462
Fair value of plan assets	317	286	$ 431
Defined Benefit Plan, Accumulated Benefit Obligation	328	299
Funded (unfunded) status of plan	(21)	(21)
Pension Plan | International Plan
Defined Benefit Plan Disclosure [Line Items]
Funded (unfunded) status of plan	(9)	(7)
U.S. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 192	$ 176
U.S. Pension Plan | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	35%	23%
U.S. Pension Plan | Debt securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	65%	75%
U.S. Pension Plan | Other investments
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0%	2%
U.S. Pension Plan | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Remaining Unfunded Commitment	$ 9	$ 11
U.K. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 95	$ 84
U.K. Pension Plan | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	33%	48%
U.K. Pension Plan | Debt securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	67%	52%
U.K. Pension Plan | Private equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 14	$ 9
Immaterial Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 30	$ 26

RETIREMENT AND POSTRETIREMENT_4

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Obligations and Funded Status (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in projected benefit obligation:
Benefit obligation, January 1	$ 307	$ 462
Service cost	4	6	$ 2
Interest cost	17	13	6
Actuarial loss (gain)	11	(151)
Benefits paid	(7)	(7)
Expenses paid from assets	0	(1)
Effect of foreign currency exchange rate movements	6	(15)
Benefit obligation, December 31	338	307	462
Change in plan assets:
Fair value of plan assets, January 1	286	431
Actual return on plan assets	26	(126)
Company contributions	6	3
Benefits paid	(8)	(7)
Expenses paid from assets	0	(1)
Effect of foreign currency exchange rate movements	7	(14)
Fair value of plan assets, December 31	317	286	$ 431
Funded status, December 31	(21)	(21)
Amounts recognized in the consolidated balance sheets:
Non-current asset	12	8
Non-current liability	(33)	(29)
Liabilities	(21)	(21)
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):
Net prior service cost	1	2
Net actuarial loss	93	91
Amounts recognized in accumulated other comprehensive income	$ 94	$ 93

RETIREMENT AND POSTRETIREMENT_5

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Obligation and Asset Information (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 220	$ 201
Fair value of plan assets	196	180
Projected benefit obligation	229	209
Fair value of plan assets	$ 196	$ 180

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4	$ 6	$ 2
Interest cost	17	13	6
Expected return on plan assets	(17)	(21)	(11)
Actuarial loss (gain)	3	4	2
Net periodic pension expense (benefit)	$ 7	$ 2	$ (1)

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Actuarial assumptions used to determine benefit obligations as of December 31:
Discount rate	5.27%	5.52%	2.79%
Rate of compensation increase	3.30%	3.36%	3.36%
Actuarial assumptions used to determine net periodic pension cost for years ended December 31:
Discount rate	5.52%	2.79%	2.79%
Expected long-term rate of return on plan assets	5.84%	5.18%	5.38%
Rate of compensation increase	3.36%	3.36%	2.85%

RETIREMENT AND POSTRETIREMENT_8

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Defined Benefit Plan Assets by Category (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equities - emerging markets | U.S. Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets		$ 0
U.S. Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 192	176
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	5	10
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	58	41
U.S. Pension Plan | Equities - emerging markets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	7
U.S. Pension Plan | Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	50	7
U.S. Pension Plan | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	72	108
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	0	9
U.S. Pension Plan | 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 | 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	70	17
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	5	10
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	58	0
U.S. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Equities - emerging markets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	7	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	0	7
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	0
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	122	159
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	0	41
U.S. Pension Plan | Significant Observable Inputs (Level 2) | Equities - emerging 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 | 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	50	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	72	108
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	0	9
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	0	1
U.K. Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	95	84
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	1	2
U.K. Pension Plan | Equities - emerging markets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
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	8	6
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	10	8
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	1	4
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	32	30
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	29	25
U.K. Pension Plan | Private equity
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	14	9
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	1	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	1	2
U.K. Pension Plan | Quoted Prices in Active Markets For Identical Assets (Level 1) | Equities - emerging markets
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	80	73
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 markets
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) | Diversified growth funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	8	6
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	10	8
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	1	4
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	32	30
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	29	25
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
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 317	$ 286	$ 431

RETIREMENT AND POSTRETIREMENT_9

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - Expected Future Benefit Payments (Details) - Pension Plan $ in Millions	Dec. 31, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2024	$ 8
2025	11
2026	13
2027	16
2028	17
2029-2033	$ 113

INCENTIVE PLANS - Narrative (De

INCENTIVE PLANS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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	2,806,393	2,806,393
Stock-based compensation cost	$ 23	$ 14	$ 20	$ 14
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year 3 months 18 days

INCENTIVE PLANS - Summary of Re

INCENTIVE PLANS - Summary of Restricted Stock Unit Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units (RSUs)
Shares
Beginning balance, outstanding (in shares)	0	650,729	664,569
Granted (in shares)	664,569	287,796	258,518
Shares issued (in shares)	0	(300,594)	(236,086)
Forfeited (in shares)	0	(10,625)	(36,272)
Ending balance, outstanding, (in shares)	664,569	627,306	650,729
Weighted Average Grant Date Fair Value
Beginning balance, outstanding (in dollars per share)	$ 0	$ 32.55	$ 28.51
Granted (in dollars per share)	28.51	47.36	39.23
Shares issued (in dollars per share)	0	31.87	28.67
Forfeited (in dollars per share)	0	42.94	31.36
Ending balance, outstanding (in dollars per share)	$ 28.51	$ 39.50	$ 32.55
Performance Based Restricted Stock Units
Shares
Beginning balance, outstanding (in shares)	0	304,596	0
Granted (in shares)	0	211,791	321,271
Shares issued (in shares)	0	0	0
Forfeited (in shares)	0	(8,700)	(16,675)
Ending balance, outstanding, (in shares)	0	507,687	304,596
Weighted Average Grant Date Fair Value
Beginning balance, outstanding (in dollars per share)	$ 0	$ 41.47	$ 0
Granted (in dollars per share)	0	51	41.47
Shares issued (in dollars per share)	0	0	0
Forfeited (in dollars per share)	0	45.76	41.47
Ending balance, outstanding (in dollars per share)	$ 0	$ 45.37	$ 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, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate		50.03%	49.64%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate		4.42%	1.66%
Total stock-based compensation expense (included in selling and administrative expense)	$ 23	$ 14	$ 20	$ 14
Income tax benefit related to stock-based compensation	$ 7		$ 5	$ 3

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net Sales	$ 3,721	$ 3,628	$ 2,828
Income from continuing operations before income taxes	369	467	328
Interest expense (income), net	34	69	(1)
Assets	2,872	2,710
Payments to Acquire Productive Assets	210	149	69
Depreciation, amortization and cost of timber harvested	143	125	126
Long-Lived Assets	1,366	1,139
United States
Segment Reporting Information [Line Items]
Long-Lived Assets	450	436
Brazil
Segment Reporting Information [Line Items]
Long-Lived Assets	727	635
Europe
Segment Reporting Information [Line Items]
Long-Lived Assets	189	68
Europe
Segment Reporting Information [Line Items]
Net Sales	821	501	348
Payments to Acquire Productive Assets	31	7	6
Depreciation, amortization and cost of timber harvested	28	15	18
Latin America
Segment Reporting Information [Line Items]
Net Sales	949	954	769
Payments to Acquire Productive Assets	112	76	39
Depreciation, amortization and cost of timber harvested	68	59	58
North America
Segment Reporting Information [Line Items]
Net Sales	1,951	2,173	1,711
Payments to Acquire Productive Assets	67	66	24
Depreciation, amortization and cost of timber harvested	47	51	50
Operating Segments
Segment Reporting Information [Line Items]
Business Segment Operating Profit	441	553	298
Operating Segments | Europe
Segment Reporting Information [Line Items]
Net Sales	821	501	366
Business Segment Operating Profit	(25)	50	(29)
Assets	370	258
Operating Segments | Latin America
Segment Reporting Information [Line Items]
Net Sales	1,006	1,023	786
Business Segment Operating Profit	197	212	194
Assets	1,226	1,129
Operating Segments | North America
Segment Reporting Information [Line Items]
Net Sales	1,951	2,173	1,718
Business Segment Operating Profit	269	291	$ 133
Assets	$ 909	$ 894
Operating Segments | North America | Customer Concentration Risk | Revenue, Segment Benchmark
Segment Reporting Information [Line Items]
Concentration risk, percentage	14%	13%	12%
Corporate and Intersegment Sales
Segment Reporting Information [Line Items]
Net Sales	$ (57)	$ (69)	$ (42)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Interest expense (income), net	34	69	(1)
Other special items, net	24	5	(34)
Segment Reconciling Items | Europe
Segment Reporting Information [Line Items]
Other special items, net	19	1	0
Segment Reconciling Items | Latin America
Segment Reporting Information [Line Items]
Other special items, net	(3)	0	(35)
Segment Reconciling Items | North America
Segment Reporting Information [Line Items]
Other special items, net	8	4	1
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Other special items, net	14	12	5
Assets	367	429
Reportable Geographical Components | United States
Segment Reporting Information [Line Items]
Net Sales	1,951	2,173	1,718
Reportable Geographical Components | Brazil
Segment Reporting Information [Line Items]
Net Sales	995	1,008	734
Reportable Geographical Components | Europe
Segment Reporting Information [Line Items]
Net Sales	821	501	366
Reportable Geographical Components | Americas, other than United States and Brazil
Segment Reporting Information [Line Items]
Net Sales	$ 11	$ 15	$ 52

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 3,721	$ 3,628	$ 2,828
Long-Lived Assets	1,366	1,139
Corporate and Intersegment Sales
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	(57)	(69)	(42)
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	450	436
United States | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	1,951	2,173	1,718
Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	727	635
Brazil | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	995	1,008	734
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	189	68
Europe | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	821	501	366
Americas, other than United States and Brazil | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 11	$ 15	$ 52

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - Affiliated Entity - International Paper - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2022	Dec. 31, 2022
Offtake Agreement
Related Party Transaction [Line Items]
Related party transaction, expenses from related party	$ 133	$ 462
Fiber Purchase Agreement
Related Party Transaction [Line Items]
Related party transaction, expenses from related party	52	153
Packaging
Related Party Transaction [Line Items]
Related party transaction, expenses from related party		$ 12
Transition Services Agreement
Related Party Transaction [Line Items]
Other Expenses	$ 7		$ 23