Supplemental Balance Sheet Information (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Receivables consisted of the following (dollar amounts in millions):


	March 31, 2026		December 31, 2025
Trade receivables	$	113	$	95
Income tax receivable	27		16
Other receivables	16		17
Allowance for doubtful accounts	(1)		(1)
Total Receivables	$	155	$	127

Schedule of Inventories

Inventory consisted of the following (dollar amounts in millions):


	March 31, 2026		December 31, 2025
Logs	$	93	$	62
Other raw materials	42		42
Semi-finished inventories	35		38
Finished products	247		222
Total Inventories	$	416	$	363

Schedule of Property, Plant and Equipment

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


	March 31, 2026		December 31, 2025
Land, Land improvements, and logging roads, net of road amortization	$	225	$	225
Buildings	527		525
Machinery and equipment	2,648		2,602
Construction in progress	293		298
Property, plant, and equipment	3,692		3,650
Accumulated depreciation	(1,977)		(1,941)
Property, plant, and equipment, net	$	1,715	$	1,709

Intangible Asset and Goodwill

Changes in goodwill and other intangible assets for the three months ended March 31, 2026, are provided in the following table (dollar amounts in millions):


	Goodwill		Developed Technology		Total Goodwill and Intangibles
Beginning balance December 31, 2025	$	19	$	3	$	22


Amortization	—		(2)		(2)
Ending balance March 31, 2026	$	19	$	1	$	21

1 Timber licenses are included in timber and timberlands on the Condensed Consolidated Balance Sheets.

Intangible Asset, Finite-Lived

Changes in timber licenses for the three months ended March 31, 2026, are provided in the following table (dollar amounts in millions):


	Timber Licenses1
Beginning balance December 31, 2025	$	8
Additions	—
Impairment	—
Amortization	—
Ending Balance March 31, 2026	$	8

1 Timber licenses are included in timber and timberlands on the Condensed Consolidated Balance Sheets.

Schedule of Accounts Payable and Accrued Liabilities

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


	March 31, 2026		December 31, 2025
Trade accounts payable	$	122	$	129
Salaries and wages payable	53		84
Accrued customer incentives	38		50
Taxes other than income taxes	6		5
Current portion of operating lease liabilities	9		9
Other accrued liabilities	5		9
Total accounts payable and accrued liabilities	$	233	$	285

Schedule of Other Long-Term Liabilities

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


	March 31, 2026		December 31, 2025
Post-retirement obligations	$	6	$	6
Asset retirement obligations	9		9
Uncertain tax positions	5		5
Warranty reserves	5		5
Other	8		8
Total other long-term liabilities	$	33	$	33