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EQUITY METHOD INVESTMENTS (Note)
 9 Months Ended
Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments and Joint Ventures Disclosure [Text Block] The Company accounts for the following investments in affiliated companies under the equity method of accounting.
Graphic Packaging International Partners, LLC

The Company completed the transfer of its North American Consumer Packaging business in exchange for an initial 20.5% ownership interest (79,911,511 units) in Graphic Packaging International Partners, LLC (GPIP) in 2018. GPIP subsequently transferred the North American Consumer Packaging business to Graphic Packaging International, LLC (GPI), a wholly-owned subsidiary of GPIP that holds the assets of the combined business. On January 29, 2020, the Company exchanged 15,150,784 units of the aggregate units owned by the Company for an aggregated price of $250 million, resulting in a pre-tax gain of $33 million ($25 million after taxes) which was recorded in the first quarter of 2020. On August 7, 2020, the Company exchanged 17,399,414 units of the aggregate units owned by the Company for an aggregated price of $250 million, resulting in an immaterial gain which was recorded in the third quarter of 2020. As of September 30, 2020, the Company's ownership interest in GPIP was 14.8%. The Company recorded equity earnings of $11 million and $10 million for the three months ended September 30, 2020 and 2019, respectively, and $29 million and $37 million for the nine months ended September 30, 2020 and 2019, respectively. The Company received cash dividends from GPIP of $16 million and $20 million during the first nine months of 2020 and 2019, respectively. The Company's investment in GPIP was $693 million and $1.1 billion at September 30, 2020 and December 31, 2019, respectively, which was $347 million and $529 million, respectively, more than the Company's proportionate share of the entity's underlying net assets. The difference primarily relates to the basis difference between the fair value of our investment and the underlying net assets, and is generally amortized in equity earnings over a period consistent with the underlying long-lived assets. The Company is party to various agreements with GPI under which it sells fiber and other products to GPI. Sales under these agreements were $60 million and $69 million for the three months ended September 30, 2020 and 2019, respectively, and $190 million and $212 million for the nine months ended September 30, 2020 and 2019, respectively.

The Company continues to evaluate its investment in GPI relative to options available to further monetize this investment.

Summarized financial information for GPIP is presented in the following tables:

Balance Sheet
In millionsSeptember 30, 2020December 31, 2019
Current assets$2,013 $1,796 
Noncurrent assets5,662 5,482 
Current liabilities1,692 1,178 
Noncurrent liabilities3,617 3,244 
Income Statement
Three Months Ended
September 30,		Nine Months Ended
September 30,
In millions2020201920202019
Net sales$1,698 $1,581 $4,908 $4,640 
Gross profit255 266 838 820 
Income from continuing operations89 83 146 283 
Net income 89 83 146 283 

Ilim S.A.

The Company has a 50% equity interest in Ilim S.A. (Ilim), which has subsidiaries whose primary operations are in Russia. The Company recorded equity earnings (losses), net of taxes, of $(33) million and $18 million for the three months ended September 30, 2020 and 2019, respectively, and $(5) million and $186 million for the nine months ended September 30, 2020 and 2019, respectively. The Company received cash dividends from the joint venture of $141 million and $239 million during the first nine months of 2020 and 2019, respectively. At September 30, 2020 and December 31, 2019, the Company's investment in Ilim was $322 million and $508 million, respectively, which was $126 million and $136 million, respectively, more than the Company's proportionate share of the joint venture's underlying net assets. The differences primarily relate to currency translation adjustments and the basis difference between the fair value of our investment at acquisition and the underlying net assets. The Company is party to a joint marketing agreement with JSC Ilim Group, a subsidiary of Ilim, under which the Company purchases, markets and sells paper produced by JSC Ilim Group. Purchases under this agreement were $41 million and $51 million for the three months ended September 30, 2020 and 2019, respectively, and $131 million and $162 million for the nine months ended September 30, 2020 and 2019, respectively.

Summarized financial information for Ilim is presented in the following tables:

Balance Sheet
In millionsSeptember 30, 2020December 31, 2019
Current assets$592 $804 
Noncurrent assets2,442 2,813 
Current liabilities613 1,015 
Noncurrent liabilities2,015 1,844 
Noncontrolling interests13 16 

Income Statement
Three Months Ended
September 30,		Nine Months Ended
September 30,
In millions2020201920202019
Net sales$498 $479 $1,474 $1,692 
Gross profit191 196 597 836 
Income (loss) from continuing operations(62)41 7 388 
Net income (loss)(60)40 7 375