DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The following table presents net earnings from discontinued operations.

	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	JUNE 2016			JUNE 2015			JUNE 2016			JUNE 2015
Total net sales	$	456		$	467		$	886		$	914
Costs of products sold	374			417			760			809
Gross margin	82			50			126			105
Selling expenses	3			4			7			7
General and administrative expenses	8			8			17			16
Research and development expenses	2			1			3			3
Charges for integration and restructuring, closures and asset impairments(1)	25			—			31			—
Other operating income, net	(10		)	(6		)	(19		)	(14		)
Operating income	54			43			87			93
Equity loss from joint venture	(1		)	(7		)	(3		)	(13		)
Interest expense, net of capitalized interest	(1		)	(3		)	(3		)	(4		)
Earnings from discontinued operations before income taxes	52			33			81			76
Income taxes	(14		)	(14		)	(23		)	(24		)
Net earnings from discontinued operations	$	38		$	19		$	58		$	52

(1) Charges for integration and restructuring, closures and asset impairments consist of costs related to our strategic evaluation of the Cellulose Fibers businesses and transaction-related costs.

Schedule of Disposal Groups Including Discontinued Operations Balance Sheet [Table Text Block]

The following table shows carrying values for assets and liabilities classified as discontinued operations as of June 30, 2016 and December 31, 2015.

DOLLAR AMOUNTS IN MILLIONS	JUNE 30, 2016		DECEMBER 31, 2015
Assets
Cash and cash equivalents	$	7	$	1
Receivables, less allowances	213		211
Inventories	230		243
Prepaid expenses	15		14
Property and equipment, net	1,313		1,339
Construction in progress	72		51
Timber and timberlands at cost, less depletion charged to disposals	—		1
Investments in and advances to joint ventures	58		74
Total assets of discontinued operations	$	1,908	$	1,934
Liabilities
Accounts payable	$	99	$	122
Accrued liabilities	94		118
Long-term debt	88		88
Deferred income taxes	359		336
Other liabilities	26		26
Total liabilities of discontinued operations	$	666	$	690

Schedule of Disposal Groups Including Discontinued Operations Cash Flows [Table Text Block]

Cash flows from discontinued operations for the three and six months ended June 30, 2016 and June 30, 2015 are as follows:

	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	JUNE 2016			JUNE 2015			JUNE 2016			JUNE 2015
Net cash provided by operating activities	$	68		$	73		$	134		$	173
Net cash used in investing activities	$	(12	)	$	(31	)	$	(34	)	$	(58	)