RESTRUCTURING AND OTHER CHARGES (Note)

9 Months Ended

Sep. 30, 2014

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities [Note Text Block]

RESTRUCTURING AND OTHER CHARGES

2014: During the three months ended September 30, 2014, restructuring and other charges totaling $24 million before taxes ($15 million after taxes) were recorded. Details of these charges were as follows:

	Three Months Ended September 30, 2014
In millions	Before-Tax Charges		After-Tax Charges
Courtland mill shutdown (a)	$	3	$	2
Early debt extinguishment costs	13		8
EMEA packaging restructuring	5		3
Other	3		2
Total	$	24	$	15

During the three months ended June 30, 2014, restructuring and other charges totaling $307 million before taxes ($188 million after taxes) were recorded. Details of these charges were as follows:

	Three Months Ended June 30, 2014
In millions	Before-Tax Charges			After-Tax Charges
Courtland mill shutdown (a)	$	49		$	30
Early debt extinguishment costs	262			160
Brazil packaging	(7		)	(5		)
Other	3			3
Total	$	307		$	188

During the three months ended March 31, 2014, restructuring and other charges totaling $499 million before taxes ($305 million after taxes) were recorded. Details of these charges were as follows:

	Three Months Ended March 31, 2014
In millions	Before-Tax Charges		After-Tax Charges
Courtland mill shutdown (a)	$	495	$	302
Other	4		3
Total	$	499	$	305

(a) During 2013, the Company deferred accelerating depreciation for certain assets as we evaluated possible alternative uses by one of our other businesses. The net book value of these assets at December 31, 2013 was approximately $470 million. During the first quarter of 2014, we completed our evaluation and concluded that there were no alternative uses for these assets. We recognized approximately $430 million and approximately $36 million of accelerated depreciation related to these assets during the first quarter of 2014 and second quarter of 2014, respectively. Other components of the second quarter of 2014 Courtland mill shutdown cost include site closure costs of $7 million, and severance charges of $6 million. Other components of the first quarter of 2014 Courtland mill shutdown cost include site closure costs of $30 million, severance charges of $15 million and $20 million of other non-cash charges. Components of the third quarter of 2014 Courtland mill shutdown cost include severance charges of $2 million.

2013: During the three months ended September 30, 2013, restructuring and other charges totaling $59 million before taxes ($36 million after taxes) were recorded. Details of these charges were as follows:

	Three Months Ended September 30, 2013
In millions	Before-Tax Charges			After-Tax Charges
Early debt extinguishment costs	$	15		$	9
Courtland mill shutdown	51			31
Bellevue box plant facility sale	(9		)	(6		)
Other	2			2
Total	$	59		$	36

During the three months ended June 30, 2013, restructuring and other charges totaling a gain of $24 million before taxes ($14 million after taxes) were recorded. Details of these charges were as follows:

	Three Months Ended June 30, 2013
In millions	Before-Tax Charges			After-Tax Charges
Early debt extinguishment costs	$	3		$	2
Insurance reimbursements	(30		)	(19		)
Other	3			3
Total	$	(24	)	$	(14	)

During the three months ended March 31, 2013, restructuring and other charges totaling $52 million before taxes ($32 million after taxes) were recorded. Details of these charges were as follows:

	Three Months Ended March 31, 2013
In millions	Before-Tax Charges		After-Tax Charges
Early debt extinguishment costs	$	6	$	4
Augusta paper machine shutdown	44		27
Other	2		1
Total	$	52	$	32