DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The following table summarizes the operating results of the Company's discontinued operations related to the Performance Fibers spin-off for the three and nine months ended September 30, 2014 and 2013, as presented in "Income from discontinued operations, net" in the Consolidated Statements of Income and Comprehensive Income:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2014		2013			2014			2013
Sales	$	—	$	225,523		$	456,180		$	766,377
Cost of sales and other	—		(162,515		)	(368,868		)	(529,098		)
Transaction expenses	—		(1,368		)	(22,989		)	(1,512		)
Income from discontinued operations before income taxes	—		61,640			64,323			235,767
Income tax expense	—		(18,313		)	(21,231		)	(59,950		)
Income from discontinued operations, net	$	—	$	43,327		$	43,092		$	175,817

The following table reconciles the operating results of both the Performance Fibers and Wood Products discontinued operations, as presented in “Income from discontinued operations, net” on the Consolidated Statements of Income and Comprehensive Income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Performance Fibers income from discontinued operations, net	$	—	$	43,327	$	43,092	$	175,817
Wood Products income from discontinued operations, net	—		—		—		44,477
Income from discontinued operations, net	$	—	$	43,327	$	43,092	$	220,294

The following table summarizes the operating results of the Company’s Wood Products discontinued operations and the related gain for the nine months ended September 30, 2013, as presented in “Income from discontinued operations, net” on the Consolidated Statements of Income and Comprehensive Income:

	Nine Months Ended
	September 30, 2013
Sales	$	16,968
Cost of sales and other	(14,258		)
Gain on sale of discontinued operations	64,040
Income from discontinued operations before income taxes	66,750
Income tax expense	(22,273		)
Income from discontinued operations, net	$	44,477

Schedule of Interest Expense Allocated to Discontinued Operations

The following table summarizes the interest expense allocated to discontinued operations for the three and nine months ended September 30, 2014 and 2013:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2014		2013			2014			2013
Interest expense allocated to the Performance Fibers business	$	—	$	(2,489	)	$	(4,205	)	$	(6,286	)

Schedule of Disposal Groups, Depreciation, Amortization, and Capital Expenditures

The following table summarizes the depreciation, amortization and capital expenditures of the Company's discontinued operations related to the Performance Fibers business:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Depreciation and amortization	$	—	$	22,340	$	37,985	$	51,142
Capital expenditures	—		11,357		46,336		81,540
Jesup mill cellulose specialties expansion	—		37,207		—		137,392

Schedule of Major Classes of Performance Fibers Assets and Liabilities

The major classes of Performance Fibers assets and liabilities included in the spin-off are as follows:

	June 27, 2014
Accounts receivable, net	$	66,050
Inventory	121,705
Prepaid and other current assets	70,092
Property, plant and equipment, net	862,487
Other assets	103,400
Total assets	1,223,734
Accounts payable	65,522
Other current liabilities	51,006
Long-Term debt	950,000
Non-current environmental liabilities	66,434
Pension and other postretirement benefits	102,633
Other non-current liabilities	7,269
Deficit	(19,130		)
Total liabilities and equity	$	1,223,734

Schedule of Elimination of Intercompany Hardwood Purchases

Prior to the spin-off, hardwood purchases were intercompany transactions eliminated in consolidation as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Hardwood purchases	$	—	$	108	$	3,935	$	458