INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

Domestic and Foreign Earnings (Loss) From Continuing Operations Before Income Taxes

Domestic and Foreign Earnings (Loss) From Continuing Operations Before Income Taxes

DOLLAR AMOUNTS IN MILLIONS
	2013		2012			2011
Domestic earnings	$	312	$	450		$	341
Foreign earnings (loss)	122		(11		)	(84		)
Total	$	434	$	439		$	257

Provision (Benefit) for Income Taxes From Continuing Operations

Provision (Benefit) for Income Taxes From Continuing Operations

DOLLAR AMOUNTS IN MILLIONS
	2013			2012			2011
Current:
Federal	$	(63	)	$	(69	)	$	(73	)
State	(16		)	(11		)	16
Foreign	(21		)	26			8
	(100		)	(54		)	(49		)
Deferred:
Federal	(60		)	39			11
State	10			4			(11		)
Foreign	21			66			(13		)
	(29		)	109			(13		)
Total income tax provision (benefit)	$	(129	)	$	55		$	(62	)

Effective Income Tax Rate Applicable to Continuing Operations

Effective Income Tax Rate Applicable to Continuing Operations

DOLLAR AMOUNTS IN MILLIONS
	2013			2012			2011
U.S. federal statutory income tax	$	152		$	154		$	90
State income taxes, net of federal tax benefit	13			6			4
REIT income not subject to federal income tax	(101		)	(94		)	(80		)
Foreign taxes	(8		)	8			20
Provision for unrecognized tax benefits	(193		)	(6		)	(7		)
Repatriation of Canadian earnings	21			—			(76		)
State income tax settlement	—			(10		)	—
Domestic production activities deduction	(13		)	—			—
Other, net	—			(3		)	(13		)
Total income tax provision (benefit)	$	(129	)	$	55		$	(62	)
Effective income tax rate	(29.9		)%	12.5		%	(23.3		)%

Deferred Income Tax Assets (Liabilities) Related to Continuing Operations by Category

Deferred Income Tax Assets (Liabilities) Related to Continuing Operations by Category

DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2013			DECEMBER 31, 2012
Assets:
Current	$	151		$	88
Noncurrent - domestic	37			285
Noncurrent - foreign	4			83
Noncurrent liabilities - domestic	(206		)	—
Net deferred tax asset (liability)	$	(14	)	$	456

Items included in Our Deferred Income Tax Assets (Liabilities)

Items Included in Our Deferred Income Tax Assets (Liabilities)

DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2013			DECEMBER 31, 2012
Postretirement benefits	$	102		$	144
Pension	57			521
Real estate impairments	214			115
State tax credits	59			59
Net operating loss carryforwards	144			187
Cellulosic biofuel producers credit	80			240
Other	310			336
Gross deferred tax assets	966			1,602
Valuation allowance	(97		)	(144		)
Net deferred tax assets	869			1,458
Property, plant and equipment	(538		)	(577		)
Timber installment notes	(180		)	(240		)
Other	(165		)	(185		)
Deferred tax liabilities	(883		)	(1,002		)
Net deferred tax asset (liability)	$	(14	)	$	456

Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits

Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits

DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2013			DECEMBER 31, 2012
Balance at beginning of year	$	177		$	251
Additions for tax positions of prior years	—			2
Reductions for tax positions of prior years	(148		)	(21		)
Settlements	—			(53		)
Lapse of statute	(3		)	(2		)
Balance at end of year	$	26		$	177