Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes During the three months ended March 31, 2026, the Company recognized Income Tax Benefits of $2 million on Loss before Income Taxes of $45 million. The effective tax rate for the three months ended March 31, 2026 is different from the statutory rate primarily due to the discrete tax impact of the charges associated with the adjustment of certain held for sale assets to their estimated fair value that results in no corresponding tax benefit. The Company also recorded discrete tax adjustments including $2 million for a tax shortfall related to RSUs that vested during the period and $2 million for the establishment of a valuation allowance against certain net deferred tax assets in the Netherlands. Additionally, the Company's effective tax rate is impacted by the mix of earnings between foreign and domestic jurisdictions, including those with and without valuation allowances. During the three months ended March 31, 2025, the Company recognized Income Tax Expense of $43 million on Income before Income Taxes of $170 million. The effective tax rate for the three months ended March 31, 2025 is different from the statutory rate primarily due to the write-off of non-deductible book goodwill associated with the sale of the Company's Augusta, Georgia bleached paperboard manufacturing facility in May 2024; a benefit from purchased tax credits; discrete tax adjustments, including a tax benefit of $2 million related to excess tax benefits on RSUs that vested during the period; and the mix of earnings between foreign and domestic jurisdictions, including those with and without valuation allowances.
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