Restructuring Charges and Other Items (Note)

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities

2021: During 2021, restructuring and other charges, net, totaling $509 million before taxes were recorded. The charges included:

In millions	2021
Early debt extinguishment costs (see Note 16)	$	461
Building a Better IP (a)	29
EMEA packaging restructuring (b)	12
Other restructuring items	7
Total	$	509

(a) Severance related to our Building a Better IP initiative which is focused on value creation through streamlined operations and

process optimization. The majority of the severance charges are expected to be paid in 2022.

b) Severance related to the optimization of our EMEA Packaging business. The majority of the severance charges are expected to be paid in 2022.

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

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

2019: During 2019, restructuring and other charges, net, totaling $51 million before taxes were recorded.

These charges included:

In millions	2019
Overhead cost reduction initiative (a)	$	15
EMEA packaging restructuring (b)	15
Early debt extinguishment costs (see Note 16)	21
Total	$	51

(a) Includes pre-tax charges of $11 million in Corporate and $4 million in the Global Cellulose Fibers segment 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. The majority of the severance charges were paid in 2020.