v3.26.1
BUSINESS SEGMENTS - Reconciliation of Business Segment Information in Consolidated Statement of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting, Revenue Reconciling Item        
Net sales to unaffiliated customers $ 1,867 $ 1,884 $ 3,594 $ 3,647
Total sales 1,867 1,884 3,594 3,647
Net contribution (charge) to earnings 213 165 450 330
Costs of sales 1,556 1,559 2,965 2,987
Gross margin 311 325 629 660
Selling expenses 24 23 47 46
General and administrative expenses 115 114 234 233
Other segment items [1] (41) 23 (102) 51
Intersegment eliminations        
Segment Reporting, Revenue Reconciling Item        
Total sales (151) (156) (287) (308)
Unallocated items        
Segment Reporting, Revenue Reconciling Item        
Net sales to unaffiliated customers 0 0 0 0
Total sales (151) (156) (287) (308)
Net contribution (charge) to earnings (82) (75) (171) (174)
Costs of sales (139) (144) (258) (271)
Gross margin (12) (12) (29) (37)
Selling expenses 0 0 1 1
General and administrative expenses 46 44 95 93
Other segment items [1] 24 19 46 43
Timberlands        
Segment Reporting, Revenue Reconciling Item        
Total sales 367 373 723 755
Timberlands | Operating segments        
Segment Reporting, Revenue Reconciling Item        
Net sales to unaffiliated customers 367 373 723 755
Total sales 518 529 1,010 1,063
Net contribution (charge) to earnings 130 88 245 190
Costs of sales 434 416 843 825
Gross margin 84 113 167 238
Selling expenses 1 1 1 1
General and administrative expenses 24 24 49 48
Other segment items [1] (71) 0 (128) (1)
Timberlands | Intersegment eliminations        
Segment Reporting, Revenue Reconciling Item        
Total sales 151 156 287 308
Strategic Land Solutions        
Segment Reporting, Revenue Reconciling Item        
Total sales 140 154 347 248
Strategic Land Solutions | Operating segments        
Segment Reporting, Revenue Reconciling Item        
Net sales to unaffiliated customers 140 154 347 248
Total sales 140 154 347 248
Net contribution (charge) to earnings 94 106 263 162
Costs of sales 38 44 70 76
Gross margin 102 110 277 172
Selling expenses 0 0 0 0
General and administrative expenses 8 6 14 13
Other segment items [1] 0 (2) 0 (3)
Strategic Land Solutions | Intersegment eliminations        
Segment Reporting, Revenue Reconciling Item        
Total sales 0 0 0 0
Wood Products        
Segment Reporting, Revenue Reconciling Item        
Total sales 1,360 1,357 2,524 2,644
Wood Products | Operating segments        
Segment Reporting, Revenue Reconciling Item        
Net sales to unaffiliated customers 1,360 1,357 2,524 2,644
Total sales 1,360 1,357 2,524 2,644
Net contribution (charge) to earnings 71 46 113 152
Costs of sales 1,223 1,243 2,310 2,357
Gross margin 137 114 214 287
Selling expenses 23 22 45 44
General and administrative expenses 37 40 76 79
Other segment items [1] 6 6 (20) 12
Wood Products | Intersegment eliminations        
Segment Reporting, Revenue Reconciling Item        
Total sales $ 0 $ 0 $ 0 $ 0
[1] Other segment items for each reportable segment includes recurring and non-recurring income and expense items. For our Timberlands segment, this includes gains on the sale of timberlands for the quarter and year-to-date period ended June 30, 2026. For our Wood Products segment, this includes product remediation insurance recoveries for the year-to-date period ended June 30, 2026. For Unallocated Items, this includes non-operating pension and other post-employment benefit costs and interest income and other for all periods presented. Refer to Note 13: Other Operating Costs, Net for additional information.