Restructuring Charges and Other Items (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs [Table Text Block]

During 2020, restructuring and other charges, net, totaling $195 million before taxes were recorded. The charges included:

In millions	2020
Early debt extinguishment costs (see Note 16)	$	196
Other restructuring items	(1)
Total	$	195

During 2019, restructuring and other charges, net, totaling $57 million before taxes were recorded. These charges included:

In millions	2019
Overhead cost reduction initiative (a)	$	21
EMEA packaging restructuring (b)	15
Early debt extinguishment costs (see Note 16)	21
Total	$	57

(a) Includes pre-tax charges of $11 million, $6 million and $4 million in Corporate, the Printing Papers segment and the Global Cellulose Fibers segment, respectively, for severance related to an overhead cost reduction initiative. The majority of the severance charges were paid in 2020.

(b) Includes $14 million of severance and $1 million in other charges in conjunction with the restructuring of our EMEA Packaging business. During 2018, restructuring and other charges, net, totaling $29 million before taxes were recorded. These charges included:

In millions	2018
EMEA packaging restructuring (a)	$	47
Gain on sale of investment in Liaison Technologies Inc.	(31)
Early debt extinguishment costs (see Note 16)	10
Riverdale mill conversion severance	3
Total	$	29

(a) Includes $33 million of severance, $6 million in accelerated depreciation, $2 million in accelerated amortization and $6 million in other charges in conjunction with the optimization of our EMEA Packaging business. The majority of the severance charges recorded were paid throughout 2018.