DIVESTITURES AND ASSETS HELD FOR SALE	12 Months Ended
Dec. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]
DIVESTITURES AND ASSETS HELD FOR SALE	NOTE 4: DIVESTITURES AND ASSETS HELD FOR SALE DIVESTITURES On September 16, 2019, we announced an agreement to sell 555,000 acres of Michigan timberlands, which was part of our Timberlands business segment. On November 13, 2019, we completed the sale to an affiliate of The Lyme Timber Company LP for $297 million of cash proceeds, which is net of purchase price adjustments and closing costs. As a result of the sale, we recorded a $48 million gain in the Timberlands segment. On September 1, 2017, we completed the sale of our Uruguay timberlands and manufacturing operations to a consortium led by BTG Pactual's Timberland Investment Group, including other long-term investors, for $403 million of cash proceeds. Due to the impairment of our Uruguay operations recorded during second quarter 2017 (refer to Note 18: Charges for Integration and Restructuring, Closures and Asset Impairments), no material gain or loss was recorded as a result of this sale. Neither of the divestitures discussed above were considered strategic shifts that had or will have a major effect on our operations or financial results and therefore did not meet the requirements for presentation as discontinued operations. ASSETS HELD FOR SALE On December 17, 2019, we announced an agreement to sell 630,000 acres of Montana timberlands for $145 million in cash, which is subject to customary closing conditions. This sale to Southern Pine Plantations is expected to close in second quarter 2020, and the transaction relates to the Timberlands segment. The sale of our Montana timberlands is not considered a strategic shift that has, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations. However, the related assets have met the relevant criteria to be classified as held for sale in the current period Consolidated Balance Sheet. The designation as held for sale requires us to record the related net assets at the lower of their current cost basis or fair value, less an amount of estimated selling costs, and thus, we recognized a noncash pretax impairment charge of $80 million in fourth quarter 2019 (refer to Note 18: Charges for Integration and Restructuring, Closures and Asset Impairments). Other than the impairment charge associated with held for sale classification, this classification does not affect the presentation in the Consolidated Statement of Operations. The held for sale classification did change the presentation of the related assets from long-term to current on the Consolidated Balance Sheet. As of December 31, 2019, “Assets held for sale” had a balance of $140 million, which consisted primarily of timberlands and other related assets, after an impairment of $80 million.

DIVESTITURES AND ASSETS HELD FOR SALE

12 Months Ended

Dec. 31, 2019

Discontinued Operations And Disposal Groups [Abstract]

NOTE 4: DIVESTITURES AND ASSETS HELD FOR SALE

DIVESTITURES

On September 16, 2019, we announced an agreement to sell 555,000 acres of Michigan timberlands, which was part of our Timberlands business segment. On November 13, 2019, we completed the sale to an affiliate of The Lyme Timber Company LP for $297 million of cash proceeds, which is net of purchase price adjustments and closing costs. As a result of the sale, we recorded a $48 million gain in the Timberlands segment.

On September 1, 2017, we completed the sale of our Uruguay timberlands and manufacturing operations to a consortium led by BTG Pactual's Timberland Investment Group, including other long-term investors, for $403 million of cash proceeds. Due to the impairment of our Uruguay operations recorded during second quarter 2017 (refer to Note 18: Charges for Integration and Restructuring, Closures and Asset Impairments), no material gain or loss was recorded as a result of this sale.

Neither of the divestitures discussed above were considered strategic shifts that had or will have a major effect on our operations or financial results and therefore did not meet the requirements for presentation as discontinued operations.

ASSETS HELD FOR SALE

On December 17, 2019, we announced an agreement to sell 630,000 acres of Montana timberlands for $145 million in cash, which is subject to customary closing conditions. This sale to Southern Pine Plantations is expected to close in second quarter 2020, and the transaction relates to the Timberlands segment.

The sale of our Montana timberlands is not considered a strategic shift that has, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations. However, the related assets have met the relevant criteria to be classified as held for sale in the current period Consolidated Balance Sheet. The designation as held for sale requires us to record the related net assets at the lower of their current cost basis or fair value, less an amount of estimated selling costs, and thus, we recognized a noncash pretax impairment charge of $80 million in fourth quarter 2019 (refer to Note 18: Charges for Integration and Restructuring, Closures and Asset Impairments). Other than the impairment charge associated with held for sale classification, this classification does not affect the presentation in the Consolidated Statement of Operations. The held for sale classification did change the presentation of the related assets from long-term to current on the Consolidated Balance Sheet.

As of December 31, 2019, “Assets held for sale” had a balance of $140 million, which consisted primarily of timberlands and other related assets, after an impairment of $80 million.