Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Receivables consisted of the following (dollars in millions):

	December 31,
	2022		2021
Trade receivables	$	106	$	156
Other receivables	19		13
Income tax receivable	4		1
Allowance for doubtful accounts	(1)		(1)
Total	$	127	$	169

Schedule of Inventory, Current [Table Text Block]

Inventories

Inventories are valued at the lower of cost or net realizable value. Inventory costs include materials, labor, and operating overhead. The FIFO (first-in, first-out) or average cost methods are used to value our inventories as of December 31, 2022. Included in the inventory balance is a lower of cost or market adjustment of $22 million as of December 31, 2022, and $6 million as of December 31, 2021. Inventory consisted of the following (dollars in millions):

	December 31,
	2022		2021
Logs	$	59	$	50
Other raw materials	72		57
Semi-finished inventory	25		20
Finished products	180		150
Total	$	337	$	278

Depreciation expense [Table Text Block]

Depreciation and amortization expense on property, plant, and equipment was included in our Consolidated Statements of Income as noted below (dollars in millions):

	Year Ended December 31,
	2022		2021		2020
Cost of sales	$	121	$	107	$	100
Selling, general and administrative expenses	4		2		3
Total depreciation and amortization	$	124	$	109	$	102

Property, Plant and Equipment [Table Text Block]

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following (dollars in millions):

	December 31,
	2022		2021
Land, land improvements, and logging roads, net of road amortization	$	193	$	168
Buildings	428		333
Machinery and equipment	2,124		1,934
Construction in progress	253		201
	2,998		2,636
Accumulated depreciation	(1,672)		(1,596)
Property, plant, and equipment, net	$	1,326	$	1,039

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accounts payable and accrued liabilities were as follows (dollars in millions):

	December 31,
	2022		2021
Trade accounts payable	$	178	$	180
Salaries and wages payable	66		65
Accrued customer incentives	46		31
Taxes other than income taxes	10		12
Current portion of operating lease liabilities	8		7
Other accrued liabilities	9		9
Total Accounts payable and accrued liabilities	$	317	$	304

Other Noncurrent Liabilities [Table Text Block]

Other long-term liabilities were as follows (dollars in millions):

	December 31,
	2022		2021
Post-retirement obligations	$	7	$	9
Asset retirement obligations	8		8
Uncertain tax positions	7		9
Warranty reserves	6		6
Pension benefit obligation	1		11
Other	25		20
Total Other long-term liabilities	$	53	$	63

Schedule of Asset Retirement Obligations [Table Text Block]

The activity in our asset retirement obligation liability for 2022 and 2021 is summarized in the following table (dollars in millions).

	Year Ended December 31,
	2022		2021
Beginning balance	$	8	$	10
Accretion expense	—		1
Adjusted to expense (cost of sales and other operating credits and charges, net)	(1)		(2)
Payments made	—		—
Ending balance	$	8	$	8